FTSD News and Press, Franklin Liberty Short Duration U.S. Government From 08/30/23

2023-08-30 20:25:00 ET Summary This brief post highlights some under-appreciated news contained in today's revised estimate of Q2/23 GDP. Real growth in the quarter (annualized) was revised down from 2.4% to 2.1%, and inflation was revised down from 2.2% to 2.0%. We're very mu...

2023-08-30 10:00:00 ET Summary Another wave of global inflation is far from inevitable. But there are good reasons to think inflation will be structurally higher and more volatile over the next decade than the last. High interest rates are likely to be a key topic going into e...

2023-08-29 02:20:00 ET Summary The Fed will remain data-dependent. Strong economic and inflation data could prompt further hikes, while softening data could prompt a prolonged pause. While inflation numbers have eased in the past two months, the Fed believes that inflation is too ...

2023-08-28 15:55:00 ET Summary The economic debate shifted gears with diminishing concerns about a recession, leading U.S. long-term Treasury yields to rise sharply. The net result was a less inverted U.S. yield curve, not because short-term interest rates fell, but because long-t...

2023-08-28 14:45:00 ET Summary With inflation now much lower than it was a year ago, many pundits are considering where the Federal Reserve should go from here. The Fed does not need to raise rates further. And stopping now doesn’t amount to stopping short because inflation...

2023-08-28 10:35:00 ET Summary A potential U.S. auto strike has significant implications for the economy, earnings and inflation. From January through July, there were 214 strikes in the U.S. involving 325,000 workers, compared to 130 strikes and 28,000 workers and 223 strikes and...

2023-08-24 20:20:00 ET Summary The mainstream financial media never talks about the fact that inflation – which is the big enemy today of the bond market – is still better than deflation. Deflation is a truly ugly condition, and the “liquidity trap” tha...

2023-08-24 02:05:00 ET Summary Central bankers meeting this week in Jackson Hole likely will be talking about everything but what matters the most: the balance between the supply and the demand for money. Strong growth in M2 in 2020 was driven by a huge increase in money demand. T...

2023-08-17 13:50:00 ET Summary Earnings have been stagnating, and this past quarter, they came in better than feared. Heading into this season, I was paying very close attention to if companies are able to keep and maybe even grow their margins, and the answer is yes. Looking ...

2023-08-16 05:26:00 ET Summary Lower-than-expected inflation and falling inflation expectations have led to “the summer of our disinflation” in the US. A similar disinflationary scenario could unfold in Europe, but anemic growth and stubborn inflation may make it mor...