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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.

Political Economy

Russia and its Dollar Reserves: Going Nowhere Fast

Marc Chandler Mar 4, 2014

The effectiveness of US sanctions against Russia are almost toothless if they are unilateral. The conditions that the IMF will likely require to put Ukraine on more sustainable fiscal footing will mean economic hardship and may do more to…

Political Economy

Detroit and Rome: ‘A Tale of Two Cities’ regarding weak municipal finance

Marc Chandler Feb 28, 2014

Detroit was allowed to declare bankruptcy last year. While economists often focus on the barriers to entry, by removing the stigma from bankruptcy and easing the process, it makes lowers the barriers to exit. This stands in stark contrast…

Markets

RMB weakness accelerates and steady EMU inflation drive markets at month end

Marc Chandler Feb 28, 2014

The two main drivers of the capital markets today have been the biggest one day loss in the Chinese yuan and new that the preliminary Eurozone February CPI did not tick down as many expected. The headline rate was unchanged at 0.8%, though…

Economy

Canada’s dreadful December retail sales report

Marc Chandler Feb 22, 2014

Canada reported dreadful December retail sales and somewhat stronger than expected price pressures in January. The main take away is that a more dovish line from the central bank when it meets on March 5 is likely avoided.

Economy

FOMC Minutes and Thoughts on Forward Guidance

Marc Chandler Feb 20, 2014

As high income economies improve and the financial sectors stabilize, central bankers understandably and rightly, want to move away from the unorthodox policies that were necessary to avoid an even larger collapse and more suffering.

Political Economy

Italy: The King is Dead, Long Live the King

Marc Chandler Feb 19, 2014

Italian stocks and bonds have rallied strongly on ideas that the Italian situation can only get better. It is exactly such time, when so many observers are nearly euphoric, that the smart money may want to take some profits.

Economy

Two for Tuesday: Asian central banks, European inflation

Marc Chandler Feb 18, 2014

There have been two central bank actions in Asia to note. In Europe, two countries reported lower than expected inflation.

Political Economy

Market Takes Italian Political Turmoil in Stride

Marc Chandler Feb 13, 2014

By Marc Chandler The Italian 10-year premium over Germany (white line) has generally fallen over the past year as the dollar against the euro (yellow line). Of course, as one would expect the euro is more volatile than the 10-year…

Markets

BoE Shatters Quiet Session

Marc Chandler Feb 12, 2014

- The big event today is the BOE's Quarterly Inflation Report and the updated economic assessment and forward guidance; sterling is outperforming - Carney indicated that the new forward guidance would look at a broader range of economic…

Political Economy

US politicians looking to avoid confrontation as debt ceiling looms

Marc Chandler Feb 10, 2014

By Marc Chandler The US debt ceiling looms. The House Republicans are still formulating their strategy. Treasury Secretary Lew has said his ability to maneuver will be exhausted by February 27. While this sounds like ample time to avoid a…

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