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Author
Marc Chandler 872 posts 0 comments
Marc Chandler joined Brown Brothers Harriman in October 2005 as the global head of currency strategy. Previously he was the chief currency strategist for HSBC Bank USA and Mellon Bank. In addition to frequently providing insight into the developments of the day to newspapers and news wires, Chandler's essays have been published in the Financial Times, Barron's, Euromoney, Corporate Finance, and Foreign Affairs. Marc appears often on business television and is a regular guest on CNBC and writes a blog called Marc to Market. Follow him on twitter.
One might be forgiven for thinking that a 110 bln euro EU/IMF package would suffice for Greece and stabilize the situation as IMF packages typically do over time. However, over the past month 10-year Greek yields have 260 bp and…
Hopes of an Irish Rescue Package Reignite Dollar Weakness
Highlights The US dollar is broadly lower in anticipation of a joint EU-IMF rescue for Ireland, reigniting risk appetite and demand for higher yielding currencies, along with commodities. The euro continued to gain on the dollar,…
Spain’s Funding Needs Continue
While Ireland, Greece, and Portugal do not have to sell any more bonds this year, Spain, on the other hand, has more three more bond auctions this year and three more bill auctions. Spain seeks to sell up to 4 bln euros of bonds…
EM Currencies: What is Real? What is Nominal?
China reported higher than expected CPI figures (4.4%) last week and many suspect that the official measure understates actual inflation. There is much concern about the policies that China may implement to contain inflation in…
Ireland’s Uncertainty Continues to Weigh on Euro
Highlights The US dollar is little changed as markets start to muse the impact of a possible bailout of Ireland but remain cautious over China’s intended tightening, which continues to weigh on commodities and overall risk…
Breaking: Austria Balks at Greece, EMU Bedeviled by more than Ireland
News reports indicate that Austria is refusing to release its 190 mln euro share of the EU bailout for Greece because it has not met its budget commitments. The Fin Min Proell says that after reviewing the latest data, there is…
Dollar Firms, Uncertainty Increases
Highlights The US dollar is trading with a firm tone against nearly all the majors as weakness across equity markets and commodities drive risk appetite and markets await the outcome from today’s EuroGroup meeting, where hopes for aid…
Europe Confirms Increased Sovereign Bond Purchases Last Week
The ECB confirmed market talk that it had stepped up if sovereign bond purchases last week as the debt strains reached crisis levels. The European central banks bought 1.074 bln euros vs 711 mln the prior week. This is the most…
Dollar Firmer on European Fiscal Woes
Highlights The US dollar is trading with a firm tone against nearly all the major currencies except the Australian dollar and the Canadian dollar as a rise in commodities and equities stoke risk appetite. The euro continues to…
Thoughts On The Euro Zone From An EM Perspective
from BBH colleague Win Thin We’re not sure why there is even any debate in the market about private sector burden sharing with regards to peripheral debt. Of course there will be haircuts involved. Looking at the current euro zone problems…