All United States articles
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White papersESG and the Biden Presidency
In a dramatic change from the previous administration, we expect the administration of President Joseph Biden to implement a broad range of policy changes meant to mitigate climate risk and bring the US back into the global sustainability conversation. We will be monitoring several themes that we believe could arise under the Biden presidency:
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Blog | A changed climate: sustainable investment and the Biden administration
How much impact could a new administration in 2021 have on sustainable investing in the US?
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What Georgia Senate Results Could Mean for Markets
As president, Biden will have a stronger hand to pursue his legislative agenda now that Democratic victories in both Georgia runoff contests will put the party in control of the Senate. We would expect the administration to advance well-telegraphed efforts to expand fiscal stimulus and partially restore higher corporate tax rates, among other measures.
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Blog | Small cap sprint continues for US equities
After a Q4 sprint that puts US small-cap stocks virtually even with US large-cap stocks for 2020 in terms of full-year performance (a 21% rise for the US large-cap Russell 1000® Index relative to a 20% rise for the US small-cap Russell 2000® Index), this asset class continues to rise in the early days of 2021.
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Russell Growth and Value indexes: the enduring utility of style
As of December 31, 2019, there were $5.7 trillion of active strategies using Russell US Style Indexes as performance benchmarks, and $466 billion using them as the basis for passive investment, for a total of $6.2 trillion in benchmarked assets.
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United States: the power of Executive Orders
Following the elections in Georgia, the Democrats have a very small majority in Congress. To facilitate governance, the new administration is likely to continue to govern using Executive Orders (EOs). Their use has grown over time, and they have become a full-fledged instrument of governance.
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Biden and Democrats take control despite Trump protesters
The 2020 US general elections ended on 6 January 2021 with a Democratic sweep of two critical Georgia Senate seats, giving Democrats a slim majority and control of government until at least the next round of Congressional elections in two years. The stunning developments on Capitol Hill will not change the significance of the Georgia election, which will have far-reaching implications for Biden’s policy agenda and financial markets.
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Blog | After Q4 surge, Russell 2000 ends in dead heat with Russell 1000
The neck-and-neck performances of the Russell 1000 and Russell 2000 in 2020 (up 21% and 20%, respectively) masks the intense swings in leadership between the two indexes as the COVID-19 crisis unfolded.
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GCC/MENA Bond Market Update
The result of the US election and positive COVID-19 vaccine developments led risk assets higher. Emerging market (EM) equities and crude oil were among the stronger performers.
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Blog | Searching outside the US for yield
According to recent data from global index provider FTSE Russell, US Treasuries have become expensive compared to other major sovereign bond markets over the last four years, as measured by US yield spreads versus the FTSE World Government Bond Index excluding the US (WGBI ex. US). US yield spreads in 7 to 10 years have fallen from a peak of about 209 basis points in mid-2018 over the WGBI ex. US index to current levels of 79 basis points.
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Blog | Will value resurgence drive a Santa Claus rally? Insights from global index provider FTSE Russell
US equity markets have continued their Q4 surge, with market watchers hoping for a traditional Santa Claus rally as we approach the end of a tumultuous year. Although, one untraditional factor, value stocks, has played a more influential role in the recent market rise.
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Fixed Income Investment Insights - A Toolkit for Hedging Inflation
US fixed income investors have found the last two decades very rewarding. Much of this can be attributed to the more-or-less steady decline in US interest rates; the yield to worst of the Bloomberg Barclays US Treasury Index declined from approximately 6% at the start of 2000 to 0.6% in early December 2020.
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Real Estate Outlook – US, Edition 4 - 2020
Economic recovery begins even as the pandemic intensifies. Real estate continues to adapt.
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Emerging Market Debt Opportunities - Monthly Review
Perspective from Franklin Emerging Market Debt Opportunities team.
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Currency outlook: The trend is not your friend
Investors betting on ‘trends’ have been disappointed over the last four years. After rallying by 30% between mid-July 2014 and December 2016, the US dollar has been range-bound. It weakened in 2017, but it rebounded strongly in 2018, consolidated in 2019 and after an initial rally in 2020, it is finishing the year on the weaker side.
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How the US can lead on climate finance
A five-point plan for President Biden’s first year
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Multi-sector fixed income – The outlook for US and eurozone debt in 2021
Yields of sovereign developed market debt have fallen to record lows in 2020. Daniel Morris, chief market strategist, and Olivier De Larouzière (OL), head of multi-strategy fixed income, discuss the outlook for bonds in 2021.
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A Secret Plan for America’s New China Policy
It’s based on the reviled and maligned Trans-Pacific Partnership, so don’t tell anyone.
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US healthcare in a post-pandemic world
The COVID-19 pandemic has revealed systemic weaknesses and technological strengths and could speed the kind of progress and change needed for better quality, more accessible and more affordable care. Already, in both the healthcare and IT sectors, leaders and first movers have emerged providing solutions for the medical and social issues the crisis has brought to the fore.
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Five Factors Supporting An Allocation To European High Yield
In a region inundated with negative-yielding government debt and an uncertain growth outlook, European investors face the challenge of generating positive real returns in the coming years. Yet, that backdrop is suited to the following factors within the European high yield market:
