Beyond Bulls & Bears

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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

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Fixed Income

Global Economic Perspective: March

Franklin Templeton Fixed Income Group covers US trade worries, potential removal of presidential term limits in China, the Italian election aftermath and more in this month's Global Economic Perspective.

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Fixed Income

Environmental, Social and Governance Factors in Global Macro Investing

“Strong governance institutions, social cohesion and sustainable environmental policies support economic growth and higher income levels. At the same time, as countries become richer they can invest more in state-of-the-art infrastructure, assign greater priority to environmental sustainability, and develop a well-educated middle class that demands better social and political institutions.” - Michael Hasenstab, CIO, Templeton Global Macro

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Fixed Income

Italian Election Result: Political Uncertainty is Business as Usual for Italy

No outright winner emerged from the Italian general election, but as David Zahn, Franklin Templeton’s head of European Fixed Income, explains that situation is normal for Italy. He expects a muted response from European bond markets but cautions there may be consequences down the road if the authorities fail to take the need for reform seriously.

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Fixed Income

Global Economic Perspective: February

“The opening months of 2018 have seen volatility return to global financial markets, but we think it is important to stress US economic fundamentals have remained broadly the same. After an unusually long period of calm in many markets, the reappearance of volatility at some point seemed likely, even if the speed of market gyrations has been unsettling for investors.” - Franklin Templeton Fixed Income Group®

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Fixed Income

1-on-1 With Michael Hasenstab: Market Changes and Challenges

Take an around-the-world market tour with Templeton Global Macro CIO Michael Hasenstab in our latest “Talking Markets” podcast. Hasenstab shares his thoughts on navigating today’s market challenges. He covers recent market volatility, inflationary threats in the United States, upcoming elections in Latin America, potential “fault lines” in Europe and credit risk in China.

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Fixed Income

The Underappreciated Story: How Brexit Threatens to Shift the Balance of Power in the EU

For fixed income investors eyeing opportunities in Europe, 2018 should be the year economic fundamentals reassert their worth, according to David Zahn, Franklin Templeton’s head of European Fixed Income. Nonetheless, Zahn believes many investors are underappreciating the long-term implications for Europe of the biggest political uncertainty for the region—Brexit.

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Fixed Income

Global Economic Perspective: January

"Just as attempts to use historical precedents to predict the length and durability of the US economic cycle are undermined by the idiosyncratic nature of its recovery since the global financial crisis, much the same argument can be made about the wider global economy.” - Franklin Templeton Fixed Income Group®

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Multi-Asset

The Year Ahead: Will the US and Global Expansion Continue in 2018?

January is a month of resolutions and predictions, and perhaps more often than not, both tend to be abandoned come spring. While we don’t have a magic crystal ball to predict where the markets may be headed next, we do have a team of respected professionals who recently assembled to discuss whether they think last year’s economic momentum could continue—and where they see potential threats on the horizon.

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Fixed Income

Fed Delivers Another December Rate Hike

“It’s important to note that the United States is still historically in a very low interest-rate environment, and frankly, keeping rates close to zero for a prolonged period really isn’t healthy. In our view, this tightening cycle actually represents a normalizing of rates.” - Christopher Molumphy, Franklin Templeton Fixed Income Group

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Fixed Income

The Fed’s Long Unwinding Road

“The multi-year massive expansion of the Fed’s balance sheet has had a recognized powerful effect on asset markets—lowering yields and flattening the yield curve. Yet investors now seem to expect that the reverse process will have little impact, if any. We disagree.” - Michael Hasenstab, Templeton Global Macro

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Fixed Income

Putting Geopolitical Tensions into Perspective

When world leaders talk, markets react. And with social media becoming mainstream, politicians have a new way of getting their message to the masses. Franklin Templeton Fixed Income Group’s John Beck discusses geopolitical tensions, the impact of social media and the broader macroeconomic issues impacting the global fixed income landscape.