Beyond Bulls & Bears

On My Mind: Fed and Inflation: You Can’t Always Get What You Want
Fixed Income

On My Mind: Fed and Inflation: You Can’t Always Get What You Want

The Fed seems to have been caught by surprise by its own policy and says this is not the inflation it was looking for. Sonal Desai, Chief Investment Officer, Franklin Templeton Fixed Income, shares her thoughts on why inflation should not have come as a surprise and why investors need to brace for higher volatility as the Fed adjusts its policy stance.

PODCAST: High Time for High Yield?
Fixed Income

PODCAST: High Time for High Yield?

In our latest "Talking Markets" podcast, Bill Zox and John McClain, portfolio managers with Brandywine Global, join Amer Hasan to discuss how current market and economic conditions could benefit high yield investors, the opportunities and risks right now, and why the asset class is often overlooked or misunderstood.

On My Mind: To Work, or Not to Work…
Fixed Income

On My Mind: To Work, or Not to Work…

Of all recent economic trends, sluggish employment growth is perhaps the most important for investors to watch, says Franklin Templeton Fixed Income CIO Sonal Desai. She outlines why the labor market response will likely remain lackluster for some time, and discusses the short- and medium-term market implications.

On My Mind – Inflation: Nothing to see here. Really?
Fixed Income

On My Mind – Inflation: Nothing to see here. Really?

Prices continue to climb, with the US CPI rising in June by the most since 2008. Financial markets seem to be unfazed, but businesses and consumers appear considerably less sanguine. In her latest “On My Mind,” our Fixed Income CIO Sonal Desai discusses why inflation may be less “transitory” than many expect.

On My Mind: Something Has to Give
Fixed Income

On My Mind: Something Has to Give

There are differing opinions for why US Treasury yields have suddenly dropped. In her latest “On My Mind,” our Fixed Income CIO Sonal Desai outlines three possible scenarios and the logical implications of each; in the current constellation of asset prices, she argues, something does not add up.

Quick Thoughts: Why Our Managers Disagree on Inflation, Rates, and Growth
Perspectives

Quick Thoughts: Why Our Managers Disagree on Inflation, Rates, and Growth

Multiple leadership and diverse views steer how we invest in our global economy. Our recent macroeconomic investment roundtable with three of our autonomous investment managers found commonalities and disagreements on the path for global economic growth. All agreed that global growth will be significant this year, but there is some disagreement as to how persistent it will be. Our Chief Market Strategist Stephen Dover believes when thinking about fixed income investing, it is important to think beyond rising interest rates and focus on the many ways to obtain total return.

High Yield in View: Automobiles and Semiconductors
Fixed Income

High Yield in View: Automobiles and Semiconductors

COVID-19 caused ripple effects throughout many industries and sectors, including automobiles. An already-challenging lockdown environment that forced vehicle production shutdowns also saw shortages of parts—namely semiconductors—which continue to linger. Franklin Templeton Fixed Income Analyst Aleck Beach outlines the implications for investors.

On My Mind – Inflation: The Devil We Knew
Fixed Income

On My Mind – Inflation: The Devil We Knew

Our Fixed Income CIO Sonal Desai has been ahead of the curve in flagging the risks of inflation and rising rates that have now entered the mainstream debate. In this article, she assesses the coming together of an unprecedented fiscal stimulus, a very accommodative US Federal Reserve, and an economy poised to rebound as vaccination campaigns pave the way for reopening businesses. She cautions that central bankers might be underestimating how difficult it will be to deal with the “devil they knew”—inflation—especially if inflation expectations become unmoored; and, she highlights the key fixed income investment implications.

Meet the Manager: Jennifer Johnston
Fixed Income

Meet the Manager: Jennifer Johnston

As a child, Jennifer Johnston didn’t have visions of working in the financial field, but after 27 years in the industry, she hasn’t looked back. Being a woman in a male-dominated field has presented some challenges, but she has had an attitude of embracing every opportunity that presents itself. Here, we get to know more about Jennifer, director of our municipal bond research team.

ESG Will Define the Post-COVID Era
Fixed Income

ESG Will Define the Post-COVID Era

“As we flip the calendar to 2021, we are getting closer to a point at which the economic shocks of the past year become prologue for the economic stories ahead. We anticipate being constructive in a number of regions as the world transitions toward a post-COVID era." - Michael Hasenstab, Executive Vice President, Portfolio Manager Chief Investment Officer, Templeton Global Macro.

US 2020 Election Investment Pulse: How Shifting Attitudes Impact Recovery
Perspectives

US 2020 Election Investment Pulse: How Shifting Attitudes Impact Recovery

In our latest Election Pulse, our Head of Equities Stephen Dover is joined by Franklin Templeton Fixed Income CIO Sonal Desai and Gallup's Jonathan Rothwell to discuss survey findings on COVID-19 and its impact on the consumer. They discuss attitudes about vaccines, mask-wearing, and where they think the research may lead them post-election.

On My Mind: A Strong Recovery, Many Challenges Ahead
Fixed Income

On My Mind: A Strong Recovery, Many Challenges Ahead

While the US economy has been staging a strong recovery from the COVID-19 pandemic, the challenge is far from over, says Franklin Templeton Fixed Income CIO Sonal Desai. She says the tug of war between the virus and the economy seems likely to continue until an effective vaccine is made available at scale.