Beyond Bulls & Bears

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Multi-Asset

Continued Euro Strength Draws A Long Road Ahead for the ECB

“In our view, we think the ECB would prefer to avoid any major appreciation of the euro, particularly while inflation is still running below the 2% target. The question therefore is whether the ECB can do anything to avoid the euro’s rise.” Matthias Hoppe, Franklin Templeton Multi-Asset Solutions.

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Equity

How Our Investment Assumptions Colour Our Mid-Cap Strategy

In a year filled with economic and political uncertainty, it remains difficult to predict what the future holds. While Paul Spencer, Franklin UK Equity team, shuns the crystal ball, he presents some base-case expectations in the United Kingdom to underpin his investment approach.

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Fixed Income

Global Economic Perspective: July

In this month's Global Economic Perspective, our Fixed Income Group dives into diverging central bank policy and weighs in on whether the European Central Bank is likely to be less accommodative—and what its timing might look like.

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Emerging Markets

How the Asian Financial Crisis Reshaped Emerging Markets

Templeton Global Macro CIO Michael Hasenstab looks at how the response of local policymakers in the two decades since the Asian Financial Crisis has impacted emerging markets, and why he believes some of the most unloved local currency markets today represent exciting opportunities.

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Multi-Asset

Why ECB Tapering Expectations May Be Premature

“Financial markets across Europe seem to have taken upbeat comments from European Central Bank President Mario Draghi late last month as evidence that the end may be in sight for accommodative monetary policy in the region. Our view is more nuanced.” Matthias Hoppe, Franklin Templeton Multi-Asset Solutions.

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Equity

Notes From the Trading Desk – Europe

"Central bank commentary has been driving headlines throughout the second quarter, from our perspective, and last week was no exception as several monetary policymakers in different jurisdictions gave a hawkish tilt to speeches, fuelling speculation that the period of ultra-accommodative monetary policy could be approaching an end.” - Franklin Templeton European Trading Desk team.

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Equity

Value Update: Where Is the Next Pocket of Opportunity?

"As the anticipated value rally gains steam, we think non-US stocks should begin to benefit. Like the value universe a year ago, non-US equities today look to us to be undervalued, under-owned, and exposed to positive catalysts, including improving corporate fundamentals, economic tailwinds and political and policy support.” - Templeton Global Equity Group

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Fixed Income

Global Economic Perspective: June

In this month’s Global Economic Perspective, Franklin Templeton Fixed Income Group examines whether inflation may gain momentum in the United Sates, why it’s pleased the European Central Bank has resisted tapering of its quantitative easing program and why investors in all markets need to be cognizant of political risks.

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Perspectives

Uncharted Terrain: Today’s Global Market Drivers

Despite some uncertainties, economic improvements in developed and emerging markets have supported a positive mood across both equity and fixed income this year. However, with some risks on the horizon, many investors are wondering whether the tide may turn. Against this backdrop, Franklin Templeton’s senior investment leaders discuss where they see opportunities and risks ahead.

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Equity

UK Election Result: Grounds for Optimism in the Medium Term?

“The UK election result came as a shock to most observers, but early indications suggest financial markets don’t view it as an end of the world scenario. And there are indications that some positives could emerge over the medium term.” Colin Morton, vice president, portfolio manager, UK Equity Team, June 9, 2017.

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Fixed Income

Theresa May’s Shock Defeat Threatens Further Volatility

“The prospect of a hung parliament, resulting either in a minority government or a coalition, paints a picture of an administration not in complete control during a period in which the United Kingdom needs its most focused administration for 70 years. ” David Zahn, Franklin Templeton Fixed Income Group, June 9, 2017.

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Fixed Income

Is It Time to Consider European Sovereign Debt?

"The divergence between bond yields of some eurozone countries should bring potential opportunities for investors willing to be flexible in the way they move in and out of areas where they don’t see value.” David Zahn, head of European Fixed Income, Franklin Templeton Fixed Income Group.