Marc Chandler | TalkMarkets | Page 142
Political Economist
Marc Chandler has been covering the global capital markets in one fashion or another for more than 25 years, working at economic consulting firms and global investment banks. Chandler attended North Central College for undergraduate work, where he majored in political science and the humanities. ...more

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Investors Remain Uneasy Even As Equities Stabilize
There is an unease that continues to hang over the market. It is as if a shoe fell last week, and most investors seem to be waiting for the other shoe to drop.
Bears Very Short US 10-Year Ahead Of CPI
The US reports January CPI figures tomorrow. The main narrative is that it is an inflation scare spurred by the jump in January average hourly earnings that pushed yields higher and unhinged the stock market.
Stocks And Bonds
It is a more complicated look at the relationship between the US stocks and bonds. In particular, we are looking at the S&P 500 and the 10-year US generic yield.
Tuesday's Two Developments
There are two important developments today. First, the recovery in the global equity markets is being challenged. Second, the yen has strengthened across the board and is now at its best levels against the dollar since last September's low.
US Rates: Real Or Expectations?
The jump in US interest rates triggered equity sales and a spike in volatility, which in turn spurred the unwinding of low vol bets that had been paying off handsomely.
Equity Markets Find Firmer Footing, Dollar Softens
The most important development today has been the stability in the equity markets after last week's meltdown.
Emerging Markets: The Week Ahead - Feb. 12
EM FX ended Friday on a mixed note, as risk assets recovered a bit from broad-based selling pressures. Best EM performers on the week were ZAR, PHP, and CNY while the worst were COP, RUB, and ARS.
The Week Ahead: Recovering From Too Much Of A Good Thing?
The low volatility that has been a characteristic of the capital markets for the past few years spurred financial innovation to profit from it.
Can The Dollar Remain Firm If The Equity Bloodletting Is Over?
The US dollar rose against all the major currencies last week except the Japanese yen. The yen and dollar's strength is consistent with our understanding that both currencies were used to fund the purchases of other assets, including equities.
Emerging Markets: What Has Changed - Friday, February 9
In the EM equity space, as measured by MSCI, Egypt (-1.0%), Indonesia (-1.5%), and UAE (-1.7%) have outperformed this week, while China (-10.0%), Hong Kong (-7.5%), and Taiwan (-7.4%) have underperformed.
Equity Sell-Off Extends To Asia, But More Muted In Europe
The 100-point slide in the S&P 500 and the 1000-point drop in the Dow Jones Industrials yesterday spurred more bloodletting in Asia.
Forex Volatility Elevated, But Still Modest
Implied volatility had been trending higher in the foreign exchange market prior to the sell-off in equities that began a week ago.
Trade Optics That The US Will Like
China and Germany have been subject to criticism over their trade practices, albeit for different reasons. Both reported smaller than expected trade surpluses today. The optics are good, but will not stand in the way of a tougher US stance.
Dollar Firms, While Equities Search For Stability
The swings in the equity markets are subsiding, bond yields are firm and the US dollar is extending its recovery.
Major Currencies Year-To-Date
Taken together, one gets a distinct impression that after an impressive rally to start the year, the currencies are rolling over. The extent of the dollar's advance is not yet clear.
Guns And Butter May Resolve US Legislative Logjam
After a volatile session in North America, the major equity indices closed higher. In fact, the 1.75% rise in the S&P 500 was the best since November 2016.
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