Beyond Bulls & Bears

Why We’re Positive About Lagarde’s ECB Nomination
Fixed Income

Why We’re Positive About Lagarde’s ECB Nomination

Christine Lagarde may have emerged as a surprise candidate to take the helm of the European Central Bank (ECB), but David Zahn, our Head of European Fixed Income, sees it as a positive choice. Here he explains why both her experience, and lack of it, could prove positive if she does secure the job. And he shares his conviction that, whoever is in charge, the ECB is likely to remain steadfast on its easing path.

ECB Acts to Reassert Its Inflation-Targeting Role
Fixed Income

ECB Acts to Reassert Its Inflation-Targeting Role

Many observers had low expectations ahead of this week’s European Central Bank (ECB) governing council meeting. But as David Zahn, Franklin Templeton Fixed Income Group’s Head of European Fixed Income, explains, the decisions made at the meeting have some intriguing implications and show the extent of the bank’s determination to achieve its inflation target.

The EU: Singing from 28 Hymn Sheets
Fixed Income

The EU: Singing from 28 Hymn Sheets

What’s the investment lesson in Europe’s recent parliamentary elections? Our Fixed Income CIO Sonal Desai says it’s differentiation. Read more of what’s on her mind about this topic. 

European Elections: Big Changes, or Business as Usual?
Fixed Income

European Elections: Big Changes, or Business as Usual?

Many observers are predicting that European elections later this month will usher a wave of populist representatives into the European Parliament. David Zahn, Head of European Fixed Income, Franklin Templeton Fixed Income Group, believes there may be a shift in political balance, but suggests the ability of extremists at either end of the political spectrum to dramatically alter the direction of the European Union is likely to be limited.

Eurozone Debt Disputes Make an Unhappy Union
Fixed Income

Eurozone Debt Disputes Make an Unhappy Union

When investing in sovereign debt, there is a level of trust involved—faith a government will return an investor’s principal plus interest without fail. But Franklin Templeton Fixed Income doesn’t see this as blind faith; it must be backed by verifiable economic metrics. In this excerpt from the latest “FT Thinks,” our Head of European Fixed Income David Zahn outlines how governments have changed in Europe, and how new politicians with fresh agendas can bolster confidence, or rouse concerns.

Why European Investors Might Consider Fixed Maturity Investing
Fixed Income

Why European Investors Might Consider Fixed Maturity Investing

Against a background of sustained low interest rates, the search for yield is leading some investors to cast their nets a little wider. David Zahn, Head of European Fixed Income at Franklin Templeton, looks at one idea that seems to be sparking interest: fixed maturity investing.

Theresa May Holds on, but What Does This Mean for Investors?
Fixed Income

Theresa May Holds on, but What Does This Mean for Investors?

Theresa May has survived a leadership challenge called by Eurosceptic members of her own party and will continue to lead the United Kingdom as it heads towards Brexit. But David Zahn, Franklin Templeton Fixed Income Group’s head of European Fixed Income, warns May’s troubles are not over yet. He predicts further volatility ahead for financial markets, but argues there may be opportunities for shrewd active managers.

Theresa May’s Brexit Steeplechase Has Only Just Begun: An Investor’s Perspective
Alternatives

Theresa May’s Brexit Steeplechase Has Only Just Begun: An Investor’s Perspective

UK Prime Minister Theresa May seemed to have cleared the first hurdle in her bid to secure a soft Brexit. Her Cabinet initially backed the withdrawal deal UK and European Union negotiators have agreed to. But subsequently a number of cabinet members resigned. David Zahn, Franklin Templeton’s head of European Fixed Income, warns her most difficult challenge now lies ahead. And he believes there remain plenty of obstacles in her path, with profound implications for investors.

How Angela Merkel’s Future Could Influence European Markets
Fixed Income

How Angela Merkel’s Future Could Influence European Markets

Markets have largely brushed off speculation about the future of German Chancellor Angela Merkel as she stood down as leader of the Christian Democratic Union party. However, our Head of European Fixed Income David Zahn believes her decision could have ramifications, both politically and economically, in the not-so-distant future.

Is It Time to Consider European Sovereign Debt?
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.

European Bond Market: What Lies Beyond the Politics?
Fixed Income

European Bond Market: What Lies Beyond the Politics?

While politics may dominate the investment agenda in Europe and further afield, it won’t be the only theme for investors, in our view.

I Know What You Missed This Summer

I Know What You Missed This Summer

Volatility doesn’t necessarily mean bad news for active investors; on the contrary, we believe it opens up doors for those brave enough to take positions on in a longer term view.