FLGV News and Press, Franklin Liberty U.S. Treasury Bond From 06/14/21

Strategas Chief Economist Don Rissmiller discusses the macro environment, hitting on recent inflation data, the weaker-than-expected jobs recovery, and where monetary policy goes from here. So far, the Fed has consistently stated they’re likely to view this data as transitory a...

Investors are exceedingly exuberant about markets once again, with numerous analysts suggesting nothing but “blue skies” ahead. We set our expectations for a 5-10% correction between mid-June and July. With that window approaching and signals very close to triggering &#x...

Much of last week’s economic focus was on the inflation report. Inflation was indeed pretty hot year over year, but that wasn’t unexpected. With CPI printing at 5% year over year, bond yields fell. But these are small moves, and the trend for rates is still up for now. ...

The latest inflation numbers are out, up 0.64% from April to May (7.7% annualized), on top of 0.77% (9.2% annualized) from March to April. Not all inflation is the same, and what you experience depends on what you buy and where you buy it. The current surge of inflation is concent...

May CPI inflation surprised on the upside, with month-on-month 0.6% vs. 0.4% Bloomberg consensus. May’s 0.6% month-on-month is below April’s 0.8%, highlighting the decline in high-frequency inflation. If one calculates the longer-horizon inflation rates, one can see ...

US rates have snapped lower. It had been brewing. Over a half a trillion was returned to the Fed at 0% yesterday, as excess liquidity seeks a home for the night. The bond market sees this as a run on rates, and not a driver of a macro boom. Meanwhile, the ECB has removed a key ris...

Consumer price inflation jumped 0.6%MoM in May, after recording 0.8% increases in April and 0.6% in March. Core inflation jumped even more, gaining 0.7%MoM after rising 0.9% in April. The stimulus-fueled economy is booming. However, the pandemic has led to scarring in the economy that...

With input costs rising sharply, the rise in consumer price inflation has only just begun. As shortages and supply chain disruptions are priced through to consumers, goods inflation is set to trend higher. We still believe the impact will be temporary, but in the US less so than i...

The ease lower in market rates continues to pose questions about the extent of the inflation risk ahead; but also reflects liquidity seeking a home. As dovish expectations build ahead of the ECB meeting, more issuers have decided to make use of the benign primary market conditions. ...

If the Federal Reserve’s recent intervention in both the stock and the bond markets is more extreme than Ben Bernanke’s, doesn’t that mean the reaction to any future tapering would be more extreme, too? It sure could be, given the subdued volatility we have seen i...