Fixed Income – Page 3
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White papers
SDG Engagement High Yield Credit, H1 2023 Report
Achieving true sustainability in fixed income is no mean feat: it takes time, expertise, dedication and resources.
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White papers
Central Bank Watch: Settle in for a long pause
The Franklin Templeton Fixed Income (FTFI) Central Bank Watch is a qualitative assessment of the central banks for the Group of Ten (G10) nations plus two additional countries (China and South Korea).
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Markets hit by ‘higher for longer’ rate expectations
After a volatile September, the S&P 500 Index is heading towards its first quarterly loss in 12 months.
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What’s next for the Swiss economy?
Inflation is slowing in Switzerland but the economy remains subject to a great degree of uncertainty. What does the latest Swiss National Bank policy meeting tell us about the outlook?
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Inflation: Mapping the impact of the global rate hiking cycle
After a sustained era of cheap money, an abrupt and unprecedented shift in the global interest rate hiking cycle was ushered in, as the world’s major central banks sought to stave off surging inflation.
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White papers
Swiss credit: approximating bond returns
What ingredients go into calculating expected bond returns? Quite a few it turns out. Using a practitioner’s method, we outline one approach to approximating returns for bonds and bond portfolios.
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Fixed Income: What’s next for gilts and the United Kingdom?
Gilt prices have been struggling this past year due to surging inflation and interest-rate increases. David Zahn, Franklin Templeton Fixed Income’s Head of European Fixed Income, shares his outlook for the UK economy and why he thinks now is a good time to consider investing in gilts.
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Stress testing the foundations: Analyzing the vulnerability of US banks to falling commercial real estate values
The commercial real estate sector’s continued challenges could potentially impact US banks. Franklin Templeton Fixed Income’s Shawn Lyons discusses the ongoing commercial real estate crisis and how US banks are safeguarding themselves against these issues.
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White papers
Political Gridlock but Fiscal Largesse
How political dysfunction undermines debt sustainability and helps embed structurally higher inflation.
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Fed Meeting Impact: Is It More Than You Realize?
This paper discusses how Federal Open Market Committee (FOMC) meetings have a significant impact on options pricing, creating risks and opportunities for investors employing options-based strategies.
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The BoE’s “Table Mountain” Approach Sees Rates Highest for Longest
The Bank of England kept its Bank Rate on hold at 5.25% on September 21, 2023. The UK’s economic backdrop is weak, so we believe that the BoE will keep interest rates at this level for the near future.
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White papers
The Fed’s Higher-for-Longer Mantra is OK for Bonds
The Federal Reserve indicated that policy rates will likely remain elevated for some time and that neutral policy may indeed be higher than previously projected at its September 20, 2023 meeting.
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Don’t Wait on Spread Widening
Yields are on sale, offering investors an attractive income-generating opportunity
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Opportunity in Investment-Grade Credit
Investment-grade credit is currently offering impressive yields, with relatively less risk than other fixed income sectors, according to Josh Lohmeier of Franklin Templeton Fixed Income. He makes a case for investing in the space today.
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White papers
ESG in private credit: A key differentiator?
Although ESG integration is still relatively nascent in the private debt sphere, advances are being made as lenders take into account the long-term risks entailed with debt issuance.
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White papers
Peter Harrison: The City needs to embrace risk
Proposals to overhaul listings rules are a step in the right direction but much more work needs to be done.
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Euro-denominated short duration – only upside from here?
The ECB is at or near the end of its historic monetary tightening cycle. From this point, we believe investors in euro-denominated short duration debt may well stand to benefit – whatever happens next.
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White papers
Why ABS could be an attractive option for European insurers
A fundamental shift in the UK defined benefit (DB) pension market, sparked in September 2022 by the government’s ‘mini budget’, opened the doors to potential opportunities across the balance sheet for insurance companies. Here we explore how European insurers may be in a position to take advantage of the compelling risk adjusted returns on offer in the European ABS market.
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White papers
Go global for higher income
There is a new reality taking shape in global markets and investors may need to reset their expectations.
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Weathering the storm: Exploring climate change adaptation and the investor’s imperative
The Franklin Templeton Fixed Income team believe that issuers that think critically about the environment in which they operate could outperform throughout the full market cycle compared with those who are slower to adapt.