FLGV News and Press, Franklin Liberty U.S. Treasury Bond From 03/29/21

Stocks were more mixed last week, with large caps up and small caps down. Markets continue to trade on the expectation of a post-virus boom, but the economic data hasn't been on the same page recently. Perception is what drives markets. Through interest rates and exchange rates an...

Fundamentals are in place for a major EM crisis, and I see reasonable probabilities of an unfolding crisis in Turkey providing the catalyst. Meanwhile, complacency in "developed" markets remains formidable. Is systemic crisis even possible while the major central banks are running ful...

America has the world's largest economy and the world's largest bond market, and yet, has higher yields than any of the developed EU countries. The reason for all of this sprang out of the financial crisis of 2008/2009, and it has sprung every year since, as the world's central banks ...

The weak US 7yr auction is a timely reminder that the backdrop points to higher rates, and the relief we see currently should prove temporary. This general area of the curve is rich in any case, which may also have proven a deterrent to demand at the auction. The ECB will try to d...

Is the Fed's take on inflation giving a confusing message to the bond market? The impact of the Fed's average inflation targeting framework on markets and investors. Opportunities and threats for fixed income. For further details see: The Fed's Average Inflation Targetin...

The jarring retreat in global bond markets this year has provoked comparisons to the mid-2013 Taper Tantrum, when the Fed hinted at the prospect of scaling back its QE program. While today's upheaval shares many similarities with that earlier event, there are also some notable differe...

Rates markets are seeing relief as concerns over the disruption caused by last week's SLR decision are allayed, and with infection rates rising again in Europe. Such relief could prove temporary, but the ECB will use every chance to widen the gap versus the US. TLTRO money has jus...

The magnitude of the stimulus over the past year may be driving inflationary expectations. This, combined with potential synchronized global growth and supply constraints, may all serve as tailwinds for commodity producers. VanEck Commodity Strategist and Portfolio Manager Roland ...

There is some Covid angst in the air again, though it's not permanent, we feel. The pull from the eurozone is pertinent. Even in the US there is pause for thought. There is room here for debate on the curve shape. Near-term 5yr/10yr flattening now. Structural 10yr/30yr flattening ...

The Fed’s dramatic balance sheet expansion, combined with rampant deficit spending, resulted in a situation where the economic damage from the pandemic was twice as bad as that of the Great Recession of 2008, yet the damage to financial markets was just half as bad. The 2-10 sp...