FLCH News and Press, Franklin FTSE China From 04/05/24

2024-04-05 05:40:00 ET Summary Worldwide PMI survey data compiled by S&P Global found average prices charged for goods and services to have risen globally at the fastest rate for ten months in March. The main area of stubborn price pressure remains the service sector, which re...

2024-04-05 04:30:00 ET Summary The stock market is partying like it is 2008 even at a time of high interest rates and of growing geopolitical, financial system, and trade risks to the economic recovery. The general indication of partying markets are stretched equity valuations and...

2024-04-05 04:05:00 ET Summary Purchasing manager indexes in China rebounded in March, with the Caixin/S&P Global index reaching its highest level in over a year. India will go to the polls on April 19, with voting in the general election continuing over six weeks. While E...

2024-04-03 08:30:00 ET Summary Market swings punctuated the first quarter as “central bank speak” proliferated and caused confusion. I put first quarter global markets into perspective and highlight some “little victories” that may have been easy to ove...

2024-03-30 05:58:04 ET Summary Financial conditions loosened further, building on the Fed's Q4 dovish pivot. For the quarter, the S&P 500 returned (price and dividends) 10.55%. While 10-year Treasury yields jumped 32 bps during Q1 to 4.20%, corporate Credit notably outperf...

2024-03-29 03:05:00 ET Summary The investment case for China today is a long shot. It’s not something we are prepared to commit any serious money to today. A general rule of thumb is that the property and investment sector contributes about a third of China’s total G...

2024-03-27 09:15:00 ET Summary China's near-term challenges and long-term uncertainties are plentiful, but the widespread pessimism towards the Chinese economy and markets feels excessive. We think the country's in a necessary transition rather than in any long-term decline. U...

2024-03-27 05:20:00 ET Summary China's industrial profits reached a 25-month high of 10.2% YoY YTD in the first two months of 2024. Combined with earlier industrial production data, we see positive signs for industrials having bottomed out. If the recovery of manufacturing con...

2024-03-26 02:00:00 ET Summary Geopolitical tensions in recent years have prompted companies to reconfigure their supply chains, with US firms increasingly moving production outside of China. Yet even as countries such as Mexico and Vietnam become more prominent in global manufact...

2024-03-23 05:59:45 ET Summary It's a challenge to have confidence that Powell and the Fed have a sound understanding of the nature of second round inflation effects. With market exuberance running sky-high, it's not the optimal environment for reinforcing the notion of a Fed cock...