Beyond Bulls & Bears

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Equity

Notes from the Trading Desk – Europe

"Looking ahead, it will be important to see if Turkish authorities can calm market nerves and halt the weakening of the Turkish lira. In our view, any softening in rhetoric from the United States and Turkey on their dispute should have a calming effect." - Franklin Templeton European Trading Desk team

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Perspectives

Speeding Towards Brexit, Some Off-Ramps Emerge: A Dialogue with Lord Kerr

The Brexit clock is ticking as the United Kingdom’s departure from the European Union (EU) is set to take place in March 2019. But is the UK ready to leave? And is there still a chance it won’t? We hear from Sandy Nairn, Templeton Global Equity Group chairman and Edinburgh Partners CEO, and Lord Kerr, former diplomat and current chairman of Scottish Power and crossbench member of the House of Lords.

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Equity

Meet the Manager: Katrina Dudley

“When I was hired in 2002, I was five months pregnant with my first child. Franklin Mutual Series invested in me, knowing I would need some time off relatively quickly and that I would be going through a significant life change. I think it says a lot about the long-term view we take on everything here.” - Katrina Dudley

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Multi-Asset

Cutting through the Noise: Trump, Trade and Twitter

“Could Trump’s words have a long-term impact on global stock markets? At the moment, the leading economic indicators, especially in the United States, continue to point to robust growth.” – Matthias Hoppe, Franklin Templeton Multi-Asset Solutions.

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Equity

Standing Up to Disruption: The Future for Card Payment Systems

“We believe there are pockets of potential investment opportunities among payment service providers with disruptive technologies and business models―those looking to consolidate the merchant acquirer and processor space with a single-platform approach―and companies with e-commerce platforms that have integrated omni-channel payments support.” - Diana Keenan, Franklin Equity Group

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Multi-Asset

Revisiting Corporate Credit amidst Market Volatility

“We are seeing firsthand how thriving corporate profitability has supported select corporate bonds at the fundamental level, seemingly in defiance of more aggressive US Federal Reserve policy and political and geopolitical challenges.” – Ed Perks, CIO of Franklin Templeton Multi-Asset Solutions

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Equity

Brexit: Are Markets Underestimating the Chances of the UK Not Leaving?

“Given the institutional hurdles to an agreement in the necessary timescale, we don’t see the relatively benign soft Brexit scenario as the most likely outcome. Our view is that the position is much more finely balanced and perhaps there is an equal probability of a range of different outcomes.” - Sandy Nairn, Templeton Global Equity Group

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Fixed Income

Global Economic Perspective: July

n this month’s Global Economic Perspective, Franklin Templeton Fixed Income Group examines the potential market impact of ongoing trade issues. Could it derail global growth?

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Fixed Income

Sukuk’s Journey into the Financial Mainstream

"We consider global sukuk to be a misunderstood asset class. Misconceptions to which sukuk is often subject to include assumptions that sukuk is susceptible to the headline risk associated with oil price volatility, or that it is solely concentrated in a few geographies.” - Dino Kronfol, chief investment officer, Franklin Templeton Global Sukuk and MENA Fixed Income Strategies

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Fixed Income

Hasenstab: How AMLO and Mexico Can Avoid a Populist Fate

“While Mexico’s new president, Andrés Manuel López Obrador, has shown some populist impulses, such as expanding pension benefits or broadly handing out scholarships, his team appears aware of the pitfalls that often await governments that disrupt confidence in their country’s financial markets.” - Michael Hasenstab

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Equity

Perspectives on Disruption

“In recent years, we’ve seen a number of developments that suggest investors should rethink what they thought they knew. Countless reports have focused on how new technologies, such as self-driving cars, will disrupt global industries. Yet, some disruptions outside the domain of technology get much less attention." – Stephen Dover, Franklin Templeton Investments

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Equity

Convertible Securities: a Versatile Asset Class

“Given the run we’ve seen in the US equity market over the past few years, many investors may be concerned about stock valuations and their equity exposures. In this environment, some investors may want to consider select exposure to convertible securities.” – Alan Muschott, Franklin Equity Group