Beyond Bulls & Bears

Global Economic Perspective: January
Fixed Income

Global Economic Perspective: January

"Just as attempts to use historical precedents to predict the length and durability of the US economic cycle are undermined by the idiosyncratic nature of its recovery since the global financial crisis, much the same argument can be made about the wider global economy.” - Franklin Templeton Fixed Income Group

The Year Ahead: Will the US and Global Expansion Continue in 2018?
Multi-Asset

The Year Ahead: Will the US and Global Expansion Continue in 2018?

January is a month of resolutions and predictions, and perhaps more often than not, both tend to be abandoned come spring. While we don’t have a magic crystal ball to predict where the markets may be headed next, we do have a team of respected professionals who recently assembled to discuss whether they think last year’s economic momentum could continue—and where they see potential threats on the horizon.

The Fed’s Long Unwinding Road
Fixed Income

The Fed’s Long Unwinding Road

“The multi-year massive expansion of the Fed’s balance sheet has had a recognized powerful effect on asset markets—lowering yields and flattening the yield curve. Yet investors now seem to expect that the reverse process will have little impact, if any. We disagree.” - Michael Hasenstab, Templeton Global Macro

Do Markets Fully Understand the Implications of ECB Tapering?
Fixed Income

Do Markets Fully Understand the Implications of ECB Tapering?

"The [tapering] decision should set the ECB on the path to monetary policy normalisation, but we don’t expect it to be a quick journey. We expect the eurozone to maintain an accommodative approach and low interest rates for some time to come." - David Zahn, Franklin Templeton Fixed Income Group

Putting Geopolitical Tensions into Perspective
Fixed Income

Putting Geopolitical Tensions into Perspective

When world leaders talk, markets react. And with social media becoming mainstream, politicians have a new way of getting their message to the masses. Franklin Templeton Fixed Income Group’s John Beck discusses geopolitical tensions, the impact of social media and the broader macroeconomic issues impacting the global fixed income landscape.

Lessons Learned from the Global Financial Crisis
Multi-Asset

Lessons Learned from the Global Financial Crisis

“We believe it’s difficult for any investor to time the market. We prefer to take a more disciplined approach to investing by sticking with a set mix of global stocks and bonds, rebalancing from quarter to quarter, regardless of market conditions.” – Tony Coffey, Franklin Templeton Multi-Asset Solutions

India’s Reform Movement Gains Momentum
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.

How the Asian Financial Crisis Reshaped Emerging Markets
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.

If It’s Groundhog Day, Why Aren’t Investors Learning the Lessons?
Fixed Income

If It’s Groundhog Day, Why Aren’t Investors Learning the Lessons?

The repeated financial market patterns of recent years have reminded some market professionals of the 1993 Bill Murray movie "Groundhog Day." But according to Christopher Molumphy, CIO of Franklin Templeton Fixed Income Group, investors may be missing the most important lesson of that movie: take heed of your experiences.

Trade and Taxes in a World With Borders
Fixed Income

Trade and Taxes in a World With Borders

“Successful [US] corporate tax reform would go a long way in promoting the incentives for real investment over the long term. Since weak investment has been identified as a potential drag on productivity growth since the global financial crisis, this shift in incentives could have strong and long-lived benefits.” - Michael Hasenstab

Global Economic Perspective: February
Fixed Income

Global Economic Perspective: February

The outlook for the global economy appears a little better, in our view, and overall growth in 2017 could well show a slight improvement from a year ago. The stability in the Chinese economy is encouraging, and surveys in many parts of the world suggest confidence has increased.

Latin America: The Rise and Fall of Populism
Fixed Income

Latin America: The Rise and Fall of Populism

Sharp criticism of the North American Free Trade Agreement and of immigration from Mexico signaled a temptation for the United States to turn its back on Latin America. This would be damaging to the US economy, and especially ironic at a time when key Latin American economies are moving in the opposite direction, turning away from populist economic policies.