All Fixed Income articles – Page 19
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White papers
Central Bank Watch: Not sufficiently restrictive just yet
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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White papers
US vs European credit: which is more attractive?
Value had a decent 2022 while growth lagged across equity markets. This continued until March 2023, but that trend has recently been reversing. This trade-off is often associated with the relative performance of US and European stocks: US is quality growth and Europe is value, so to speak. In this weekly edition of Simply put, we ask: does the same dynamic apply in credit markets?
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White papers
Fixed Income Investment Outlook: 3Q 2023
Central banks are finding it hard to finish the long journey toward inflation normalization, but we believe that policy rates are likely at or near their peaks—and could be maintained at elevated levels for some time. In an environment of slowing growth, restrictive monetary policy and rising idiosyncratic risk, we favor shorter durations, quality and a focus on security selection.
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White papers
The View From the Peak
Despite hawkish policymakers and very mixed economic data, the approaching plateau in rates brings more clarity and conviction to our fixed income views.
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White papers
Clear and easy access: Gaining entry to private credit
As private markets continue to evolve, improved accessibility is opening the doors to potentially unique opportunities across the private credit spectrum through different fund structures that seek to meet diverse needs.
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White papers
Insurance Fixed Income Outlook: Transition to more liquid assets
European Insurance companies started 2023 with high solvency ratios and a good outlook to improve their underlying profitability thanks to strong rate increases in reinsurance, and commercial P&C, while 2022 prices increases in retail P&C are slowly mitigating inflation.
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Podcast
Outerblue Convictions – H2 Outlook - Opportunities beyond a precarious path to growth
This month’s episode is a special focus on the macro-economic outlook and investment themes for 2023 and beyond.
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White papers
Global Macro Outlook - Third Quarter 2023
Steadfast global resilience to recession highlighted the quarter, although the outlook hasn’t necessarily improved. But with labor markets tight and wages keeping pace with inflation, consumers are navigating the economy’s rough patches. Still, we expect growth to slow in time.
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White papers
Fixed-Income Midyear Outlook: Surfing Lessons
Surf’s up! Elevated yields and negative correlations are good news for bond investors. We share strategies for making the most of today’s opportunities.
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White papers
Private credit: Perspectives on opportunities and risks
Even as traditional fixed income offers more attractive rates, institutional investors continue to explore alternative credit.
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White papers
How to manage emerging market currency risk
Investing in emerging debt or equity markets is a prudent way of adding diversification to portfolios for institutional investors. Associated with investment in these assets is a currency exposure that should be wisely managed, rather than just naively assumed. In this article we look at the investment characteristics of this currency exposure and the spectrum of approaches to managing it.
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White papers
Deep waves: The sovereign debt wave—an existential threat
The population of workers in mostly high-income countries are shrinking while social costs increase. Franklin Templeton Institute Investment Strategist Kim Catechis focuses on sovereign debt and examines the drivers of these changes and offers conclusions on their investment implications.
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White papers
Three Reasons Why the Fixed Income Environment May Be Better Than You Think
While there are a number of risks creating volatility and unease across the market, there are also reasons to believe that today’s fixed income markets offer a range of compelling opportunities.
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White papers
Global Risks 2023 – Mid-Year Review
Since our last global risks update in January, we believe risks have increased, on balance.
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White papers
Changing demand dynamics: Opportunities for European insurers
September 2022 caused a fundamental shift in the UK defined benefit (DB) pension market, as well as the demand dynamics for certain asset classes. European insurers are one of the few large institutional asset owners who are able to take advantage of these changes with opportunities presenting themselves across the balance sheet.
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White papers
Mid-year 2023 outlook: Time to engage more fully
In this Global Investment Outlook, we focus on the attractiveness of investments beyond cash including fixed income, equities and alternatives. Our investment teams provide useful exhibits to discuss opportunities for the rest of the year.
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White papers
Swiss inflation target signals more tightening
Following the Swiss National Bank’s latest monetary policy meeting, we consider the inflation backdrop in Switzerland and explore factors that argued against a larger hike.
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White papers
What inflation will cost the UK
In the UK, the significant upside surprises in core inflation for April and May, as well as accelerating private sector wages, signal that the risk of a wage-price spiral is gaining momentum.
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White papers
Rate Reduction Bonds - Finding Value in an Esoteric Market
Although not without risk, rate reduction bonds are high-quality bonds that offer a range of duration profiles and a notable yield advantage over other similarly rated securities.
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Podcast
Independence Day 2023: A Look Across U.S. Municipalities
Dennis Derby and Christine Collins discuss the upcoming Fourth of July holiday and specific reasons for investors to celebrate muni investing in the U.S.