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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.
Highlights The US dollar is narrowly mixed to start the new week. It is hanged against most of the major currencies as the market waits for fresh trading incentives. The euro was turned back on the initial test of the $1.24…
Financial Reform Bill Encourages Risk-Taking
As the details of the agreement struck by the key House and Senate conference on financial reform has been embraced favorably by the US equity market, that is being led by the financials, and the foreign currencies. In the…
China, the Yuan and Euro
The euro has declined about 0.75% this week. This seems fairly resilient, given that news stream that included the downgrade of a large French and Dutch bank, record premiums by Greece and Portugal and disappointing euro zone…
US GDP Revised Lower, but Corporate Profits Higher
The final revision to Q1 US GDP was disappointing in the headline and composition. It is mitigated on the margins, for investors, by the substantial upward revision in corporate profits. Growth was revised to 2.7% from 3.0%…
Dollar Firms, Risk Aversion Dominates
Highlights The US dollar is little is generally firmer in a risk averse environment ahead of the weekend. The notable exception is the Swiss franc, which is benefiting from tensions in the euro zone and the recent downgrade of…
The Attractiveness of Colombian Bonds
Often when global investors think about high yielding Latam debt, Brazil is the first country to come to mind. And for good reason. Brazil’s local currency debt offers among the highest yields in the world. On a 2-year…
Disappointment Pervades
Highlights The US dollar is little is generally firmer. However, the main driver is not really the greenback but heightened risk aversion and fears of a renewed economic downturn given the austerity in Europe and weakness in the…
Fed Stands Pat for an Extended Period of Time
The decision to leave rates on hold was an easy one for the Fed to make. The Fed still anticipates this will be the case for an extended period. The statement seemed to recognize some of the less favorable data since it met…
Horrific US New Home Sales — Reduce Risk
The 32.7% decline in new homes sales to a new cyclical low has actually sparked a bout of dollar and yen buying on risk aversion. The revisions to the March and April time series also point to a much weaker picture than we had. …
Australia: Rudd Under Pressure On Resource Taxes
Australian PM Rudd is coming under stronger domestic pressure as the opposition to the resource tax gains momentum. There have been press reports of a leadership challenge and a local report claims that a key bloc in the Rudd's Labor…