GIM News and Press, Templeton Global Income Fund Inc. From 08/14/19

The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information...

David Beckworth linked to this tweet by Greg Ip: 1/ Random thought: maybe we could defeat lowflation by returning to the gold standard - at $3,000 per ounce. There are some follow-up tweets. In the late 1990s, I wrote a long paper discussing FDR's gold buying program, which was an atte...

By Pater Tenebrarum Anti-Vigilantes We dimly remember when Japanese government debt traded at a negative yield to maturity for the very first time. This happened at some point in the late 1990s or early 2000s in secondary market trading (it was probably a shorter maturity than the 10-y...

July saw several double-digit declines in 10-year government bond yields, amid a flurry of political developments and the lead up to monetary policy decisions. In Southern Europe, Italy's 10-year mid-yield plunged by nearly 54 basis points to end the month at 1.54%. The decline coincided wit...

Growing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the leeway to cut interest rates significantly after normalising them. That hasn't happened. Consequently, as the recession intensifies, central banks w...

It is a capital mistake to theorize in advance of the facts. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts. - Sherlock Holmes I believe I have finally figured out why so many people, and institutional money managers, are arriving at wrong conc...

Monetary authorities around the world are using an old playbook: lowering interest rates and the value of their currency in the hopes of stimulate growth in their region. Unfortunately, it won't work in today's VUCA (volatile, uncertain, complex, and ambigous) environment. Our blog last week...

While they have never been a huge sponsor, one of the companies that I very much respected and liked is Aberdeen Asset Management, now known as Aberdeen Standard Investments. The company is truly global and strongly believes in local knowledge. As such, unlike many other sponsors, they gen...

Our July 31st client letter focused on the history of modern monetary policy and what impacts we should expect next. Last week's NY Times article "Why we should fear easy money" is also on point. Just one key takeaway is this: "Recessions tend to be longer and deeper when the preceding bo...

The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information...