FLGV News and Press, Franklin Liberty U.S. Treasury Bond From 01/14/21

2021: The year of the vaccine. Sectors to watch in 2021. 2021 corporate earnings could rise 30%. For further details see: Will Vaccines Boost Earnings And Help Fuel A Global Recovery?

When looking at spreads, one should be careful about the interpretation. The move higher in breakevens is driven by Fed purchases of TIPS, higher commodity prices, fiscal policy, and the Fed's new framework. The commonly calculated breakeven is probably measured with error, which ...

Investors appear almost universally to be pricing for an early-cycle mix of low interest rates and ongoing support from both monetary and fiscal policy, combined with the release of pent-up demand from consumers and manufacturers. Short-term stumbling blocks are not confined to the on...

China is in a stronger position at the beginning of 2021 than it was a year ago. The European Union and the United Kingdom start the year afresh following the conclusion of their terms of divorce at the very last hour in December. US corporate earnings are expected to rise by a bi...

With U.S. election uncertainty largely behind us and positive news about vaccines, better economic data and positive investor sentiment have flowed through to financial markets. However, with asset prices close to record highs and economic activity expected to accelerate sharply in 20...

The most natural explanation for the decline in real interest rates, then, is that growth has declined. Potential GDP grew 4.5% in the 1960s, 3% in the 1970s, had a spurt in the late 1990s, and then settled down to less than 2% now. This slowdown in long-term growth is the great and u...

The Democrats gained a slim majority in the Senate, paving the way for greater public spending and reinforcing our macro outlook. A more infectious virus strain could delay the activity restart but we see the cumulative economic loss as a fraction of that seen after the 2008 crisis. ...

At the start of the new year, there is an almost irresistible urge to make predictions. Everybody wants to know what will happen next. Ending the pandemic is key to getting the consumer economy back to the pre-2020 normal. We feel confident that this will happen by the end of 2021. ...

It was a close call, but Santa finally delivered with a strong rally this past week, pushing the markets to all-time highs. Markets quickly dismissed concerns of higher taxes by justifying it with more stimulus and more significant deficits. In other words, "buy everything in sigh...

The new Administration's tax proposals, in year one, total some $3.9 trillion, according to Moody's Analytics estimates. Yields on munis sank to 1.14%, which is their lowest since 1979. Also, the municipal bond spread to Treasuries is near historic lows. Yields have gone up somewh...