FTSD News and Press, Franklin Liberty Short Duration U.S. Government From 03/29/23

2023-03-29 11:55:00 ET Summary Seasonally Adjusted Money Supply in February fell $121B, and the Money Supply in January was revised from positive $31B to -$142B. Incredibly, even with the contracting money supply, the Fed is still not doing enough to solve the inflation problem. ...

2023-03-28 00:45:00 ET Summary Over the past year, the Federal Reserve and the various European central banks have raised rates more than at any time since 1981. Short-term interest rates rose above long-term rates, creating the steepest yield curve inversion in decades. As su...

2023-03-27 22:32:00 ET Summary This widespread belief that monetary aggregates are uninformative is incorrect. This widespread belief has resulted in governments not estimating monetary aggregates, or else estimating them for a much narrower set of series than in prior years. ...

2023-03-27 11:20:00 ET Summary Central banks confront the growth-inflation trade-off, with the Federal Reserve seeing recession but no rate cuts. We agree - and prefer inflation-linked bonds. Bank stocks remained under pressure last week. The two-year U.S. Treasury yield slid furt...

2023-03-27 04:00:00 ET Summary The surging cost of raising new bank capital will leave a mark. The current bullish narrative sees China as the relative safe haven, as the U.S. and Europe struggle to contain banking crises. The Federal Reserve's focus on banking system liquidit...

2023-03-25 01:37:00 ET Summary Many “recession indicators” are ringing alarm bells, from inverted yield curves to various manufacturing and production indexes. While the market is starting to price in just one additional rate hike by the Fed, the “lag effect&#...

2023-03-24 03:30:00 ET Summary Rising rates are posing challenges to the asset side of banks’ balance sheets. The rapid and aggressive tightening of monetary policy will undoubtedly put some borrowers at risk. Stephen Dover provides answers to crucial questions to help ...

2023-03-23 13:01:00 ET Summary The Federal Open Market Committee (FOMC) moved forward with an anticipated 25-basis-point increase in its federal funds rate target on Wednesday. Inflation remains high and shows little sign of moderating. The consumer price index (CPI) grew at a con...

2023-03-23 05:00:00 ET Summary The Fed raised its policy interest rate by another 25 basis points, to a target range of 4.75%-5.00%. The Fed’s base case, indeed, isn’t that dovish at all - certainly not as dovish as the markets. There is a striking dissonance in ...

2023-03-23 02:03:00 ET Summary Although CPI inflation remains at or above six percent, the FOMC has slowed down in its monetary tightening over the past two months. With an increase of only 25 basis points, the March meeting is the second month in a row during which the Fed has pu...