FTSD News and Press, Franklin Liberty Short Duration U.S. Government From 07/18/23

2023-07-18 06:30:00 ET Summary Inflation dominated the headlines and there was widespread consensus among economists that a recession was imminent. The Fed has raised the Fed Funds rate multiple times this year, but those rate increases have clearly done nothing to slow the econom...

2023-07-18 05:20:00 ET Summary While we made it to fresh 2023 highs on the back of the good CPI numbers released last week, the stock market averages tended to make most of their gains in the pre-market session. The S&P 500 has already notably undercut the 50-day moving averag...

2023-07-17 21:09:00 ET Summary The annual U.S. CPI rate is, in part, benefiting from what economists call "base effects". Shelter costs account for nearly a third of the CPI. For the last six months, the month-over-month headline rate has been trending at just over 0.25%, or a...

2023-07-17 07:35:00 ET Summary Is the Fed responsible for the drop in the inflation rate? If not, what does that imply about future policy and inflation? The 10-year/3-month Treasury spread has been inverted since last year, and that has been a reliable predictor of recession in t...

2023-07-14 11:00:00 ET Summary This week’s news on consumer inflation supports the case for expecting that the Fed's interest rate hikes are approaching the end game. Core inflation’s descent is still relatively sticky, which leaves more room for caution compared wit...

2023-07-13 04:38:00 ET Summary The AIER Everyday Price Index rose 0.41 percent in June 2023, bringing the index to 284.2 after a marginal decline in May. The headline CPI showed a month-over-month increase of 0.2 percent, while the core CPI (ex food and energy) also showed an 0.2 ...

2023-07-12 23:55:00 ET Summary Overall CPI rose by 3.0% in June year-over-year, the lowest since March 2021. The index for core services (without energy services) increased by 0.25% in June from May, compared to an increase of 0.40% in the prior month. The CPI for “food...

2023-07-12 20:35:00 ET Summary One of our big calls coming into 2023 was that this would be “the year of disinflation”. I have to admit though – by some measures it’s happening even faster than I expected. Inflation is slowing fast, but is that a good t...

2023-07-12 20:30:00 ET Summary The June US Consumer Price Index (CPI) came in at a 3% annualized rate, down from the pandemic-inflamed peak of 9.1% a year ago. The US Fed is expected to hike another 25 bps at its July 26th meeting. But recessionary odds are mounting that this will...

2023-07-12 14:29:00 ET Summary There’s good news on the inflation front. The Personal Consumption Expenditures (PCE) Price Index grew at an annualized rate of 3.8 percent in June. The Fed made the right decision in pausing its rate hikes. We need time to ascertain how ...