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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.
there is much discussion of formally ending attempts to sterilize the SMP sovereign bond purchases conducted under ECB President Trichet. While refraining from sterilizing the SMP purchases would boost excess liquidity, we suspect it would…
Nine Event Risks in the Week Ahead
The investment climate has proven extremely difficult for investors to navigate. Fed tapering and better world growth was to lead to higher interest rates. Yet interest rates for the developed world have fallen sharply in recent weeks.…
Turkey Moves, Focus Shifts to Fed
- The most important development has been the dramatic rate hike by the central bank of Turkey
- The effective tightening by the Turkish central bank was 2.25% - a lot less dramatic than the headlines would suggest
- The rate hikes in…
Italian Events Spinning Away from Letta and Alfano Government
By Marc Chandler
Political developments in Italy are happening faster than Prime Minister Letta can maneuver. The economy he is overseeing is the poster child of ECB President Draghi's assessment of a weak, fragile and uneven recovery in…
The emerging markets crisis is not all about tapering
The global capital markets imploded in the second half of last week and investors spent the weekend contemplating the significance. The main focus was on the emerging markets, which were especially hard hit. Emerging market crisis have…
Spain: The Market’s Darling
By Marc Chandler
We argue that part of the euro's rise over the past several months reflects a reassessment of Spain's outlook. Many global investors had been under-weight Europe though most of H1 13, favoring the US and Japanese…
Spain: The Market’s Darling
By Marc Chandler
We argue that part of the euro's rise over the past several months reflects a reassessment of Spain's outlook. Many global investors had been under-weight Europe though most of H1 13, favoring the US and Japanese equities.…
The Investment Climate in January 2014 in 7 Points
Here are seven themes Marc Chandler sees dominating the investment Climate from Fed tapering, to ECB reaction to disinflation to Australian and Canadian Dollars remaining out of favour.
The Eurosystem’s excess liquidity and the liquidity squeeze
The ECB's dovish forward guidance is clear and does not lack the doubts seen in the UK, or to a less extent, the US. However, in an usual occurrence overnight rates (EONIA) has moved above the refi rate (25 bp), when it should be trading…
Pacific Tensions Set to Intensify
By Marc Chandler
The simmering tension in the South China Sea may intensify in the coming weeks, and although this is no immediate market reaction, there could be going forward. Last week Japan indicate it will formally register 280…