FTSD News and Press, Franklin Liberty Short Duration U.S. Government From 04/27/24

2024-04-27 05:50:00 ET Summary Quarterly inflation data surprised to the upside and led the market to brace for a very unpleasant MoM print today. Thankfully, it was due to upward revisions, primarily to January, with the March figure coming in line with initial expectations. ...

2024-04-27 04:10:00 ET Summary Elevated inflation and strong activity and jobs numbers have pushed market expectations for the timing of the first interest rate cut to December. We still see an opportunity for a September rate cut. Nonetheless, the Federal Reserve will re...

2024-04-26 05:10:00 ET Summary Markets have overreacted to Thursday's first quarter GDP stats; quarterly numbers are by nature volatile. The first estimate of Q1/24 GDP growth came in weaker than expected (1.6% vs 2.5%). On a quarterly basis, the deflator grew at a 3.7% annual...

2024-04-26 04:20:00 ET Summary The Fed recently released the March money supply numbers, and the story hasn't changed. M2 surged from early 2020 through early 2022, thanks to $6 trillion of deficit spending that was effectively monetized. The bulge in M2 rose to a high of $4.7...

2024-04-26 03:25:00 ET Summary US GDP growth slowed to 1.6% annualised in the first quarter of this year, less than half the 3.4% rate recorded in 4Q23, but core inflation was stronger, picking up from a 2% annualised rate to 3.7%. This implies upside risks to tomorrow’s ke...

2024-04-26 02:30:00 ET Summary Money Supply is a very important indicator that helps show how tight or loose current monetary conditions are, regardless of what the Fed is doing with interest rates. Money Supply should dip some heading into the summer before rebounding later in th...

2024-04-23 13:50:00 ET Summary The US economy powered ahead in the first quarter, as strong hiring activity and gradually waning inflationary pressures boosted consumer spending, keeping growth on solid footing. In our view, much of that strength will last, supported by changing d...

2024-04-23 09:00:00 ET Summary In its fight against inflation, the last thing that the Federal Reserve needs is an oil price shock that would result from the disruption of oil flowing through the Straits of Hormuz. High interest rates for longer are bound to deepen the commercial ...

2024-04-20 05:50:00 ET Summary Despite extraordinary monetary tightening by the Federal Reserve, inflation remains elevated above its 2% target. The Consumer Price Index rose at an annualized rate of 4.5% over the last three months. Interest rates suggest money is tight. The m...

2024-04-19 03:05:00 ET Summary The only aspect of consistency in the market’s outlook for rate cuts lately has been pushing the expected date forward. Recent history falls in line with this trend and September is now seen as the earliest date for policy easing. Fed fund...