Beyond Bulls & Bears

ECB Meeting: Fresh Clarity, But Let’s Not Get Ahead of Ourselves
Fixed Income

ECB Meeting: Fresh Clarity, But Let’s Not Get Ahead of Ourselves

David Zahn, Franklin Templeton’s head of European Fixed Income, gives his take on the ECB meeting and explains why he’s still not expecting a eurozone interest-rate hike before 2020.

Fed Gives US Interest Rates Another Bump in June
Fixed Income

Fed Gives US Interest Rates Another Bump in June

The US Federal Reserve continued its tightening path at its June policy meeting, raising its benchmark interest rate for the second time this year and seventh time since December 2015. Chris Molumphy, chief investment officer, Franklin Templeton Fixed Income Group, offers us a snapshot of the US monetary policy landscape in the wake of the meeting.

ECB Preview: Will Recent Italian Developments Influence Europe’s Tapering Timeline?
Fixed Income

ECB Preview: Will Recent Italian Developments Influence Europe’s Tapering Timeline?

“With eurozone growth data softer recently and inflation also relatively muted, we think it would be premature for the ECB to embark on a tightening cycle.” – David Zahn, Franklin Templeton Fixed Income Group

Global Economic Perspective: May
Fixed Income

Global Economic Perspective: May

In this month’s Global Economic Perspective, our Fixed Income Group opines on rising energy prices, US Treasury yields, emerging-market currency pressures and global economic growth.

An Unconventional New Government in Italy
Fixed Income

An Unconventional New Government in Italy

“Although we think that fears about the League/Five Star coalition’s euro skepticism are over-played, we recognize there could be tensions between Rome and Brussels in particular over the new government’s spending plans.” – David Zahn, head of European Fixed Income.

Talking Trade Tensions, Inflation and Volatility
Multi-Asset

Talking Trade Tensions, Inflation and Volatility

Global growth has been accelerating, but there are a few potential headwinds that could cause it to stall. Three of our senior investment leaders—Ed Perks, Chris Molumphy and Stephen Dover—recently participated in a panel discussion on the potential impact of trade tensions, inflation and other issues on their radar.

Will the Roar of Market Tensions Tame Global Growth?
Perspectives

Will the Roar of Market Tensions Tame Global Growth?

The first quarter of 2018 started out like a lamb but went out like a lion as long-dormant volatility began to roar. Issues like inflation fears, trade tensions and geopolitical risks contributed to market turbulence, leaving many investors wondering whether these issues will put a damper on global growth—and end the US market’s nine-year bull run. Three of Franklin Templeton’s senior investment leaders—Stephen Dover, Christopher Molumphy and Ed Perks—weigh in.

Australia: Caught in the Middle of US-China Trade Tensions?
Fixed Income

Australia: Caught in the Middle of US-China Trade Tensions?

Franklin Templeton’s Managing Director of Australian Fixed Income, Chris Siniakov, shares his view on why a potential US-China trade war could negatively impact Australia’s education and tourism industries. That said, he’s not alarmed by recent trade headlines—at least not yet.

US 10-Year Treasury Crosses 3%: Much Ado About Nothing?
Fixed Income

US 10-Year Treasury Crosses 3%: Much Ado About Nothing?

On April 24, the US 10-year Treasury yield crossed the 3% threshold for the first time in four years, prompting much discussion about the potential implications for the US economy. But to reference a famous Shakespeare play, is all the media focus much ado about nothing? Franklin Templeton Fixed Income Group’s Michael Materasso says investors shouldn’t fret too much about the number.

The Disruption of Money
Perspectives

The Disruption of Money

While speculators have been flocking to virtual currencies with intense fervor, professional investors have largely taken a more cautious approach. Roger Bayston, senior vice president, Franklin Templeton Fixed Income Group; Austin Trombley, vice president and data scientist, Franklin Templeton Fixed Income Group; and Anthony Hardy, research analyst with Franklin Equity Group, recently took part in a panel discussion on the topic. They discuss how digital currencies work, how blockchain technology has the potential to impact many facets of our lives, and how they feel about the investment case for this rapidly changing space.

Who Said the Rules of the Game Could Change Because LIBOR’s Going Away?
Fixed Income

Who Said the Rules of the Game Could Change Because LIBOR’s Going Away?

There’s been a lot of discussion in the fixed income world about the end of the London Interbank Offered Rate (LIBOR) and what might replace it. But what hasn’t been as widely discussed is an important consequence for investors in this space: changes to LIBOR language in new-issue and amended credit agreements—particularly how these changes are implemented. Mark Boyadjian, director of our Floating Rate Debt Group, and Reema Agarwal, vice president and director of research, explain.

Global Economic Perspective: April
Fixed Income

Global Economic Perspective: April

“The extent to which the global economy’s upturn is threatened by the uncertainty over trade policy is clearly the main issue preoccupying many investors. Our view is that market sentiment often swings to extremes in these circumstances, running well ahead of actual events, and the risk of a major disruption to global trade remains low.” - Franklin Templeton Fixed Income Group