Beyond Bulls & Bears

Card image cap
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

Card image cap
Fixed Income

Fed Remains in Tightening Mode in March

The US Federal Reserve remained in tightening mode at its March monetary policy meeting, raising its benchmark interest rate for the sixth time since December 2015. Chris Molumphy, chief investment officer, Franklin Templeton Fixed Income Group, offers his take on the market implications—and why he feels it’s more important for investors to focus on the US economy’s (healthy) fundamentals rather than the exact number of rate increases this year.

Card image cap
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.

Card image cap
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®

Card image cap
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.

Card image cap
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®

Card image cap
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.

Card image cap
Equity

Winded Markets May Face a More Difficult Climb in 2018

“We believe this rosier global outlook is largely priced into equities. The US market is looking the most expensive to us at a time when US corporate earnings are already well past their prior peaks.” – Coleen Barbeau, Franklin Equity Group

Card image cap
Fixed Income

Global Economic Perspective: December

“The pattern of a strong cyclical upturn in the global economy combined with subdued inflation looks set to continue for some time, in our view. Nevertheless, we believe increasing demand and a diminishing pool of labor are likely to create meaningful pricing pressures at some point.” - Franklin Templeton Fixed Income Group

Card image cap
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

Card image cap
Fixed Income

Global Economic Perspective: November

"Investors’ perceptions about the intentions of central banks, rather than economic fundamentals, are likely to remain the central driver of fixed income markets. Uncertainty created by factors such as geopolitics may only serve to convince policymakers to maintain a looser monetary stance than might otherwise be expected by economic conditions." - Franklin Templeton Fixed Income Group

Card image cap
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