Author : Marc Chandler

The US dollar's consolidative phase appears to have ended with the January employment report. Employment growth accelerated, and average hourly earnings rebounded.  There was a 10-11 bp increase in...

Investors are having a tough time of things today.  Three issues have eclipsed the firming of expectations for a mid-year Fed hike.First, Greece's Tsipras remained committed to his campaign...

Over the last week, Russia (+12.2%), Hungary (+7.2%), and UAE (+6.3%) have outperformed in the EM equity space as measured by MSCI, while Turkey (-4.0%), Hong Kong (-0.8%), and...

The US employment report was nothing shy of spectacular.  Job growth was better than anticipated. Back months had higher revisions. Earnings growth recouped the December fluke. The participation rate...

The ECB's decision yesterday to no longer accept Greek government bonds or state-guaranteed paper, but approving Emergency Lending Assistance (ELA) by the national central bank remains a key talking...

The Great Financial Crisis lingers.  That the world economy continues to grow does not change that fact.  There are different lenses from which one can view the crisis and...

Q: What did the European Central Bank do yesterday that caused a sharp drop today in Greek stocks and bonds?A:  The European Central Bank said that because it was...

The main story today is not that the ECB will no longer (as of February 11) accept Greek government bonds as collateral and that Greek banks can have access...

Greece needs about 10 bln euros by the end of the month.  The negotiations are fierce.  Although the ECB and Germany clashed over the conduct of monetary policy, they...

The powerful bout of long dollar liquidation, spurred by optimism that the new Greek government had moved away from its posturing about debt forgiveness, has largely faded today. The...