All United States articles
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White papersBlog | 2021 Russell Reconstitution saw rise in equity inflows with migration back to index products
Every year, all eyes are on the Russell US Indexes reconstitution process. It affects in $10.6 trillion in assets and often culminates in significant trading volumes. On June 25, 2021, a record 2.37 billion shares representing $80.8 billion were executed in the Nasdaq Closing Cross in 1.97 seconds, while 2.1 billion shares were traded on NYSE—their fifth largest NYSE Closing Auction ever, with $105.1 billion in notional value traded.
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On my Mind: Something Has to Give
Dr. Sonal Desai discusses the US Treasuries sharp rally over recent weeks with yields dropping. She outlines three possible scenarios and the logical implications of each.
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Has the US housing crisis that never was, become the housing boom that no-one expected?
In previous papers, we addressed the impact of the COVID recession on the US housing market, and mortgage finance, and parallels with the GFC. We assessed whether despite the deep COVID recession in 2020, record employment losses, and legacy of the US sub-prime housing crash in the GFC, this was proving to be the “Housing crisis that never was.”
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Blog | Fading reflation trade calls time on US small-cap value leadership
US stocks have cruised to record highs this year, overcoming recent turbulence triggered by fears of runaway US inflation and a preemptive Fed policy pivot. Behind the scenes, however, these shifting macro conditions have fueled a dramatic reshuffling in market leadership.
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The Fed’s Long, Hot Summer
As the global economic recovery roars ahead, but with growing concerns about the effects of unprecedented policy stimulus, Franklin Templeton Fixed Income Views explores the implications for fixed income investors.
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Building a better benchmark
Financial market indexes are nearly a century old and their role has evolved over time. Initially, indexes were used as an information tool, primarily as a means of gauging business conditions and market sentiment. In the last few decades, indexes have assumed a central place in the investment business, both as a means of benchmarking investors’ performance and as the basis for index-based fund management.
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Biden’s strong commitment on climate change
The US president’s “American Jobs Plan” aims to fulfill his campaign pledges on climate change – if he can get it through Congress
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Is the bond broken?
An allocation to government bonds within a multi-asset portfolio has traditionally played a vital role in terms of risk management and diversification.
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Inflation Expectations And Interest Rates In The US
Recently, concerns about rising inflation rates have grown. Yield curves have steepened and interest rate levels have increased.
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Macro Views: The Fed’s ‘Reflectivity Game’
Markets interpreted the latest FOMC meeting as hawkish because 1) the dots rose significantly, with 13 out of 18 board members expecting a hike by 2023 and seven participants now expecting a hike by the end of next year; 2) this significant upward shift in rate projections was accompanied by an upward shift in inflation projections for this year, and 3) the dot dispersion across members widened sharply for 2023.
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Biden agenda: tackling income inequality and its potential inflation impact
The election of President Joe Biden has led to a turn in US government policy. This paper explores income and wealth inequality in the United States and President Biden’s policies aimed at addressing this issue, including his proposal of a corporate tax hike.
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Surging Home Prices May Lead to Rate Hikes
The return of housing as an economic driver gives the Fed options.
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Seeking Value Stocks on the Right Side of Change
Accelerating disruption creates potential opportunities for value investors.
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The Fed’s Last Call for the Punchbowl?
Dr. Sonal Desai discusses the Fed’s challenge. With high uncertainty on the inflation and employment outlook, adjusting its exceptionally loose monetary stance at the right time and pace become a very difficult high-wire act.
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Market’s view of transitory inflation in the US may be premature
We have seen an interesting paradox in the markets over the last couple of months: 10-year US Treasury yields and break-even rates on 10-year maturity TIPS (Treasury Inflation-Protected Securities) have moved lower even as inflation has moved meaningfully higher.
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U.S. sanctions on Russia: Potential impact
The recent sanctions imposed by the Biden administration represent a significant escalation in pressure on the Russian government in the wake of a variety of actions that President Biden and his advisors felt had not been fully addressed.
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Post-FOMC Market Moves—Even Bigger In The “Real” World
The Federal Reserve took a somewhat more hawkish tone than expected at its meeting on June 16 against a backdrop of updated economic projections and assessments of the risks to that outlook.
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Investment Insights: Market’s view of transitory inflation in the US may be premature
We have seen an interesting paradox in the markets over the last couple of months: 10-year US Treasury yields and break-even rates on 10-year maturity TIPS (Treasury Inflation-Protected Securities) have moved lower even as inflation has moved meaningfully higher.
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Blog | 2021 Russell Recon: the only way was up
Last Friday we announced preliminary changes to the Russell US Indexes for our 33rd annual Russell Reconstitution. More than $10 trillion is benchmarked to these indexes—and the annual “Russell Recon” is critical to ensuring they accurately represent the ever-changing US equity market.
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Real Estate Outlook – US, Edition 2 - 2021 - Persistent divergence
As summer approaches, we expect the US will make progress in the slow process of reopening. With that renewal, markets are starting to move again as well. By autumn, real estate investors should gain insight from increasing comparable leases and sales.
