Beyond Bulls & Bears

Moving Up in Credit Quality for Better Durability
Fixed Income

Moving Up in Credit Quality for Better Durability

Some investment-grade bonds are riskier than their ratings imply, while high-yield bonds have seen some positive tailwinds. Meanwhile, a large number of bank loan agreements now favor borrow¬ers over lenders. Franklin Templeton Fixed Income Group’s Glenn Voyles, Marc Kremer, Matt Fey, Brian French and Reema Agarwal take a look at these areas of credit landscape today.

Global Investment Outlook: How Much Further Can Global Growth Fly?
Perspectives

Global Investment Outlook: How Much Further Can Global Growth Fly?

Templeton Global Macro CIO Michael Hasenstab, Franklin Templeton Fixed Income Group CIO Chris Molumphy and Franklin Templeton's Head of Equities Stephen Dover weigh in on whether synchronized global growth can continue, why worries about trade wars may be overblown and why opportunities for investors may be more idiosyncratic or divergent moving forward.

Then and Now: Mortgage-Backed Securities Post-Financial Crisis
Fixed Income

Then and Now: Mortgage-Backed Securities Post-Financial Crisis

“As the Fed stops buying, we expect that will leave a greater supply of mortgage-backed securities (MBS) for the market to absorb. Now, the question is, who’s going to be the marginal buyer of MBS?” – Paul Varunok, Franklin Templeton Fixed Income Group

Global Economic Perspective: September
Fixed Income

Global Economic Perspective: September

In this month’s Global Economic Perspective, our Fixed Income Group discusses the spread of populism in Sweden, whether US economic momentum appears sustainable and what’s behind recent emerging-market woes.

Three Developments in Europe You May Have Missed over the Summer—and One You Didn’t
Fixed Income

Three Developments in Europe You May Have Missed over the Summer—and One You Didn’t

David Zahn, head of European fixed income, on why he thinks core European bond yields are unrealistically low, the impact of Japan’s “stealth taper”, and the apparent leadership vacuum at the heart of Europe. Plus why the lack of Brexit progress should be a concern for all EU member states.

Global Economic Perspective: August
Fixed Income

Global Economic Perspective: August

“We think the ECB is wise to retain some flexibility over the timing of its transition to more conventional monetary policies. The central bank has voiced concerns over the impact of the Turkish crisis on some European lenders. Additionally, volatility can be exaggerated at this time of year.” – Franklin Templeton Fixed Income Group®

Global Economic Perspective: July
Fixed Income

Global Economic Perspective: July

In this month’s Global Economic Perspective, Franklin Templeton Fixed Income Group examines the potential market impact of ongoing trade issues. Could it derail global growth?

Hasenstab: How AMLO and Mexico Can Avoid a Populist Fate
Fixed Income

Hasenstab: How AMLO and Mexico Can Avoid a Populist Fate

“While Mexico’s new president, Andrés Manuel López Obrador, has shown some populist impulses, such as expanding pension benefits or broadly handing out scholarships, his team appears aware of the pitfalls that often await governments that disrupt confidence in their country’s financial markets.” - Michael Hasenstab

Convertible Securities: a Versatile Asset Class
Equity

Convertible Securities: a Versatile Asset Class

“Given the run we’ve seen in the US equity market over the past few years, many investors may be concerned about stock valuations and their equity exposures. In this environment, some investors may want to consider select exposure to convertible securities.” – Alan Muschott, Franklin Equity Group

Michael Hasenstab: An Update on our Global Markets Resilience Scores
Fixed Income

Michael Hasenstab: An Update on our Global Markets Resilience Scores

Templeton Global Macro makes a compelling case that finding attractive opportunities in emerging markets lies in distinguishing the more resilient countries from the rest. Here, CIO Michael Hasenstab provides an update of the team’s proprietary “Local Markets Resiliency Index” and highlights the scores of seven different countries—Argentina, Brazil, India, Indonesia, Mexico, Malaysia and South Africa.

The Urge to Merge: Possible Implications from the AT&T-Time Warner Ruling
Perspectives

The Urge to Merge: Possible Implications from the AT&T-Time Warner Ruling

A recent US court ruling greenlighting the merger between AT&T and Time Warner marked an historic event that some say could open the door to more merger-and-acquisition (M&A) activity ahead. Sara Araghi, CFA, vice president, research analyst, Franklin Equity Group, and Marc Kremer, CFA, research analyst, Franklin Templeton Fixed Income Group, discuss some of the possible implications.

Global Economic Perspective: June
Fixed Income

Global Economic Perspective: June

In this month’s Global Economic Perspective, our Fixed Income Group sees the broad outlook for the global economy as remaining positive but expects more patches of financial market volatility ahead.