All Fixed Income articles – Page 40
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White papers
Fixed-Income Outlook 2023: Finding Equilibrium
2022 was an ugly year for investing. As central banks battled inflation, interest rates soared and recession fears mounted. Equity and fixed-income markets broke with convention and fell in tandem. Nearly every bond-market sector suffered historic losses, leaving almost nowhere for investors to hide.
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White papers
Global Macro Outlook - First Quarter 2023
After a year defined by inflation and the policy response to it, we expect 2023 to be a year of transition. The timing of that transition, however, remains unclear and is likely to be defined by the amount of damage done to the economy by this tightening cycle.
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White papers
2023 Outlook: Long-term perspective on markets and economies
There’s a new reality taking shape in global markets.
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Podcast
What Goes Up Must Come Down…Right?
As we wrap up on the past year, many would agree that the predominant market trend that impacted investors would have to be inflation. In 2022, inflation levels rose to the highest we have seen in four decades. How did we get here?
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White papers
Global Investment Views - January 2023
The bear market rally materialised, but strong US November job market data cooled the markets’ dovish narrative, creating a mixed picture for US inflation, given that the service components remain sticky. The Fed, for its part, slowed the pace of rate hikes, but reiterated that its job is far from over. We believe central banks, including the ECB, will be walking a policy tightrope, as risks of mistakes are high.
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White papers
Outlook for 2023: Complicated, fragmented macro road map
Brandywine Global: A complicated, fragmented world adds to the heightened uncertainty over what next year may bring for markets. Our top macroeconomic and investment experts offer their outlooks for 2023.
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White papers
Emerging Markets Debt: Springtime in January?
With the inflation and geopolitical fogs around the world dissipating, and a monetary policy pivot potentially in the cards, 2023 is shaping up to be a promising year for emerging markets debt.
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White papers
More Complicated From Here
If you thought this year was difficult, just wait. The good news is that the extreme outcomes investors worried about through most of 2022 look less likely for 2023.
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White papers
What Jerome Powell Really Wants for Christmas
Jerome Powell surely has a holiday wish list, especially facing a new year of slower growth, rising prices and inverted yield curves.
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White papers
Fixed Income: Vulnerability of emerging markets
The Franklin Templeton Fixed Income team believe countries with high levels of external debt to repay and large current account deficits may be at a greater risk from a sudden halt in foreign financing.
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Blog
Yield is Destiny; Bonds are Back
Bond investors shouldn’t lose sight of the fact 2022’s historic increase in bond yields could lead to bond returns in the next decade that are two to three times higher than the prior decade.
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White papers
Fixed Income Views: The markets vs. the Fed
Despite a challenging macro environment with elevated inflation and a looming recession, the Franklin Templeton Fixed Income team has a constructive fixed income outlook. Fixed Income Views presents the team’s first-quarter 2023 outlook.
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White papers
Treasury yields fall as the Fed hikes once more
U.S. Treasury yields fell last week. The November U.S. CPI report showed a smaller-than-expected monthly increase. The U.S. Federal Reserve delivered a 50 bps hike as expected, but also included hawkish economic projections that called into question the future of monetary policy.
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White papers
Hawkish surprise from the ECB
At its December meeting, the ECB hiked rates by 50bp, to 2.0% (deposit rate). The Bank delivered a very hawkish statement. Inflation remains the main concern and top priority.
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White papers
Spectrum, Q4 2022
A year has passed since our Q4 2021 edition of Spectrum, in which we invited investors to consider the consequences of ‘sticky’ inflation. Suffice to say, a lot has happened since then, and the question of higher-for-longer inflation has been answered in no uncertain terms.
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White papers
Climate Change High Yield Credit Annual Report, 2022
Launched in September 2021, the Federated Hermes Climate Change High Yield strategy aims to outperform the global high yield market by investing with conviction in companies that have strong fundamentals and which demonstrate the potential to decarbonise and transition to a low-carbon world.
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White papers
Has China broken the ‘doom-loop’? An Asia credit perspective
The confluence of disinflationary trends taking hold in the US, and a decisive turn in Chinese policy, has broken the doom-loop for Chinese assets and Asian credit which has plagued markets since the third quarter of 2021.
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White papers
Fed: Staying the course until the job is done
FOMC statement and press conference: On 14 December, the Federal Reserve (Fed) hiked the Fed Funds Rate by 50bp to 4.25-4.50%, a step down after four consecutive 75bp rate hikes. This takes the Fed Funds Rate further into restrictive territory.
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White papers
Emerging market debt: Darkest before dawn
We expect the US dollar to peak in Q4 2022 and if and when this happens, it will mark a significant downgrade in the strength of headwinds affecting EMD.
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White papers
China stocks rally on property support and Biden-Xi meeting
Investor appetite for shares and bonds has recovered following news Beijing is ramping up support for the real estate sector.