Beyond Bulls & Bears

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Equity

Global Economic Perspective: August

In this month’s Global Economic Perspective, Franklin Templeton Fixed Income Group takes a look at recent US economic data, and increased skepticism among many market participants about whether the Federal Reserve will implement another increase in interest rates before the end of the year.

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Equity

US Tech Sector: Continued Run-Up or Correction Coming?

Since the infamous “dot com” meltdown nearly two decades ago, people have tended to question any sort of extended run-up in technology-sector stocks. Stephen Dover, executive vice president and head of equities at Franklin Templeton Investments and chief investment officer, Templeton Emerging Markets, recently recorded a podcast centered on the theme of technology and how investors might view the sector. In this new podcast, he explains why he thinks the situation today is very different from the dot com meltdown.

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Equity

Why It’s Time to Get Back to Basics

“We think the good earnings growth so far this year provides a reasonably positive corporate earnings backdrop for the rest of the year. The earnings backdrop should play an important role in [UK] small-cap performance going forward, especially compared against the top end of the market, where the tailwind of sterling depreciation has now virtually faded.” – Richard Bullas, Franklin UK Equity team, August 15, 2017.

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Equity

Notes from the Trading Desk – Europe

"Last week was quiet until sleepy summer markets were woken by a war of words between North Korea and the United States, with both sides threatening military action. On the back of this we saw a de-risking across asset classes, and global equity markets declined across the board." - Franklin Templeton European Trading Desk team

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Equity

Navigating an Uncertain Second Half

Receding political anxiety and a gathering economic recovery in Europe helped global equity markets advance in the first half of 2017. Yet Templeton Global Equity Group’s Cindy Sweeting and Tony Docal say investors should be somewhat cautious in the second half of the year. They believe rich stock valuations and shifting central bank policies could lead to bouts of volatility.

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Fixed Income

India’s Reform Movement Gains Momentum

Templeton Global Macro CIO Michael Hasenstab recently visited India, and takes a look at some of the reforms he’s most excited about as a global fixed-income investor. He believes India’s future looks bright and that its growth trajectory should remain strong—despite some short-term adjustments.

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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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Alternatives

Hedge-Fund Strategies Get a Second Wind

After three disappointing years in the middle of this decade, it’s been a smoother course for hedge-fund strategies over the past 12 months. K2 Advisors’ Senior Managing Director Brooks Ritchey offers his analysis to explain why he sees some tailwinds ahead.

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Alternatives

Third Quarter Hedge-Fund Strategy Outlook: K2 Advisors

K2 Advisors seeks to add value through active portfolio management, tactical allocation and diversification across four main hedge strategies: long short equity, relative value, global macro and event driven. In their third-quarter (Q3) 2017 outlook, K2 Advisors’ Research and Portfolio Construction teams share the key market events they have an eye on, along with the select strategies that represent their “top convictions.”