Author : Marc Chandler

The markets initially responded dramatically to the weekend new of the Greek referendum, capital controls and an extended bank holiday.  The markets quickly stabilized and have recovered a bit...

The inexperienced Greek government lost its nerve.  The brink was less than a week away, and it blinked.  It changed tactics at last possible minute.  It took a reckless...

1) The Brazilian congress passed a new measure that will hurt the fiscal outlook, 2) Brazil central bank kept the inflation target for 2017 the same at 4.5%, but...

The global capital markets remain subdued for the most part despite the fact that paralysis in Europe is bringing Greece to the very brink. There will be no agreement...

A week ago, the UK reported a largest than expected rise in average weekly earnings for the three months through April.  The 2.7% rise is the highest in four...

Previously there was a good fit between the direction of German bund yields and the euro as this great graphic from Bloomberg illustrates.  However, recently the relationship appears to...

Another make it or it break it deadline passes in Greek negotiations and the markets take it in stride.  Indeed, the relatively calm markets conceal the angst below the...

The Federal Reserve offers custodial services for foreign central banks.  Precisely which countries use these services is confidential as is who patronizes a commercial bank's services. There was a...

The US dollar has been trending gently higher against the major currencies over the past 3-4 sessions but is trading heavier today.  It is largely within yesterday's trading range. ...

Investors have been more focused Japan's aggressive monetary policy and the structural reforms promised under Abenomics than fiscal policy. However, the Abe government is taking a new fiscal initiative....