Breaking down and making sense of global capital markets. Pre-order my new book Surplus, out Nov 3.
Joined August 2026
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My new book Surplus: The History of Too Much and the End of Economic Primacy is available for pre-order on Amazon. Out November 3, 2026 from Prometheus Books (@prometheusbks).
Pre-order: a.co/d/01LoPCWw
Marc Chandler retweeted
Week Ahead: Five G10 Central Banks Meet and Reserve Bank of New Zealand and the Bank of Canada are Most Likely to Hike: The US dollar was mostly softer after the G10 currencies last week. The euro, where the bond tensions escalated, was the notable exception. It… dlvr.it/TW2mzk
Marc Chandler retweeted
"China is churning out same antibiotics & APIs as the Sandoz factory at much lower cost for the European mkt..falling prices are a boon for European govts’ public healthcare progs but an existential threat to Sandoz, the only one making penicillin from start to finish in Europe"
US and EMU provide first estimates of Q3 GDP in the week ahead. The US may have grown by a little more than 3% at annualized clip, while the Eurozone likely expanded at less than a 1% annualized pace.
See weekly commentary at marctomarket.com/2026/10/wee…
Half of the G10 central banks meet in the coming week. Fed, ECB, BOJ on hold but will keep door open to Dec hikes, which are expected. RBNZ most likely to hike and pendulum swung in favor of Canadian rate hike too.
See marctomarket.com/2026/10/wee…
Marc Chandler retweeted
"Rate cuts off the table. I don't think there's any major central bank talking about cutting interest rates."
With WTI crude passing $103, tech slipping, and Treasury yields diverging, where is the smart money heading?
Chief Market Strategist at Bannockburn (@BannockburnCM) Marc Chandler (@CapitalMarc @marcmakingsense) breaks down the macro reality check with @thekereport:
- The fading AI investment trade
- Oil’s 4-week breakout vs. falling yields
- FOMC, BoC & ECB policy expectations
- Why Gold & Silver are breaking down
Catch the full episode : youtu.be/ZMe1Jm92ZsM
#Macro #Investing #Economy #Bonds #Gold #Forex #Trading #CentralBanks
Marc Chandler retweeted
France's Flash October PMI drop below 50 Ahead of Moody's Decision Later Today: The foreign exchange market looks eerily calm. After the safe haven flows yesterday supported the Swiss franc and yen, today they have diverged. The yen’s minor gain puts its atop… dlvr.it/TW26dP
The foreign exchange market looks eerily calm. After the safe haven flows yesterday supported the Swiss franc and yen, today they have diverged. The JPY minor gain puts its atop the G10, while the CHF's 0.25% loss puts its at the bottom.
marctomarket.com/2026/10/fra…
G10 FX is narrowly mixed. #JPY is the strongest and $CHF is weakest. French 2 flash PMI sulks below 50 boom/bust. Premium over German stabilizes but Moody's rating decision and weekend protests could drive it next week. Brazil run-off Sunday.
See marctomarket.com/2026/10/fra…
Potential key upside reversal in DXY forming. After making a new low for the month, slightly below 101.45, it is now probing yest's high. A close above it (~101.84) would confirm the pattern. A move above 102.00 could take the yr's high from Oct 14, ~103, but SOX is off 4%+.
Marc Chandler retweeted
AI-meme under pressure today, hitting equities. French bond woes persist ahead of Moody's review tomorrow. #Eur underperforms. #JPY and #CHF leading FX move. #MXN slump deepens.
See marctomarket.com/2026/10/ris…
Marc Chandler retweeted
Risk Appetites Wane: AI Jitters Returns, European Debt Stress Continues, Oil Firms: Market sentiment is fragile. After earnings helped boost sentiment yesterday, a different set of earnings weakened it today. The broad retreat has seen some signs of risk-off in… dlvr.it/TW1Mz7
Marc Chandler retweeted
Market sentiment is fragile. After earnings helped boost sentiment yesterday, a different set of earnings weakened it today. The broad retreat has seen some signs of risk-off in the FX market with the yen and Swiss franc leading the major currencies.
marctomarket.com/2026/10/ris…
Market sentiment is fragile. After earnings helped boost sentiment yesterday, a different set of earnings weakened it today. The broad retreat has seen some signs of risk-off in the FX market with the yen and Swiss franc leading the major currencies.
marctomarket.com/2026/10/ris…
AI-meme under pressure today, hitting equities. French bond woes persist ahead of Moody's review tomorrow. #Eur underperforms. #JPY and #CHF leading FX move. #MXN slump deepens.
See marctomarket.com/2026/10/ris…
Despite stronger than expected retail sales (1.2% in August, expected 0.2%), Mex peso is under pressure. USD is near the yr's high set last wk ~MXN18.6035. 3 drivers: unwinding of short USD funding trades, the dovish sounding CB, and now the stymied US-Mexican trade talks.
Some question my "surplus" thesis, and argue that surely the booming carve out of AI is absorbing it. And the sums are daunting, but the new McKinsey report shows that the AI investment in the US is simply offset the decline in investment elsewhere.
mckinsey.com/mgi/unconventio…
Marc Chandler retweeted
Wed: Fears over the AI-meme, which took the semiconductor index down more than 10% last week, has stabilized with the help of favorable earnings by Super Micro Computer and SpaceX. South Korea’s Kospi dropped 14.5% last week amid the anxiety. It rallied 3.3%… dlvr.it/TW0chy
Fears over the AI-meme, which took the semiconductor index down more than 10% last week, has stabilized with the help of favorable earnings. Meanwhile, the pressure in the European bond market continues and the #eur underperforms.
See marctomarket.com/2026/10/wed…
The #euro continues to underperform. Weaker French (and Italian) bonds and wider peripheral premiums over Germany are a drag. UK public finances deteriorated ahead of next week's budget, but firm CPI strengthen expectations of a rate hike in early Nov.
marctomarket.com/2026/10/wed…
Marc Chandler retweeted
AI Anxiety Returns, Peripheral Premiums Widen in Europe, and Oil Extends Gains: The US dollar is mostly softer as AI worries resurface. A dismal showing of an IPO for an AI infrastructure company in South Korea seemed to renew last week’s concerns. The Canadian… dlvr.it/TVzrnW
