Beyond Bulls & Bears

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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

Italian Election Outlook and Why We Don’t See an ECB Rate Hike Before 2020

The upcoming Italian election is not attracting the same sort of attention among investors as votes last year in France and Germany. For that very reason, David Zahn, Franklin Templeton’s Head of European Fixed Income, believes an unexpected result might provoke an outsized market reaction. And while investors seem more preoccupied with the trajectory of eurozone monetary policy, Zahn believes there are good reasons to think the European Central Bank will hold off until 2020 before pushing interest rates up.

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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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Equity

Earnings Growth Underpins Our Solid Outlook for European Equities

Some investors seem to be questioning whether there’s still room for additional growth in European equities, particularly if interest rates start to rise. However, Templeton Global Equity Group’s Dylan Ball suggests labour reforms across the continent should give many firms the operating leverage they need to drive further earnings growth during 2018.

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Equity

Seeing the Big Picture in Market Corrections

While we don’t know when the equity market’s recent volatility will settle down, it’s important to consider the big-picture, fundamental backdrop for the market, and not get caught up in short-term sentiment swings, according to Franklin Templeton’s head of equities, Stephen Dover. And, he believes the fundamental backdrop still looks solid.

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Perspectives

Keeping Calm When Volatility Strikes

While volatile markets occasionally present a challenge for global investors, it is our view that a knee-jerk reaction is rarely the best response. With careful consideration, the benefit of experience and an active approach, we believe periods of market turmoil can often be a time of great opportunity.

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Equity

Insights from the 2018 US Consumer Electronics Show

“We go to the Consumer Electronics Show (CES) to see how leading public and private technology companies are positioning themselves for what is next, and what products are likely to break into the mainstream. At this year’s CES, we saw three key themes: smart speakers, autonomous driving and artificial intelligence (AI).” – Jonathan Curtis and Robert Stevenson, Franklin Equity Group.

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Equity

Notes From the Trading Desk – Europe

We’ve seen some dramatic headlines in the wake of last Friday's US equity selloff, but it’s important to remember that equities have had an incredible run over the past year. In relative terms, we consider this pullback to be reasonably small. - Franklin Templeton European Trading Desk Team

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Equity

What Might Be More Important than Brexit to UK Equities Is…

“We think there are reasons to believe Brexit should represent just a blip on the country’s long-term economic prospects. Although it may feel like a major issue right now, Brexit likely won’t define the United Kingdom in 5-10 years.” - Colin Morton, UK Equity team.