The US Federal Reserve delivered another interest-rate hike at its December monetary policy meeting, marking the fifth such move in its tightening series starting in December 2015.
This article is in response to Kerry Pechter’s article, The Ambiguity of Tax Deferral. In contrast to the idea that there are different, but valid, ways to look at traditional tax-deferred 401(k) and IRA accounts, I show that there are right and wrong conceptual models. Wrong models lead to wrong decisions and do not explain outcomes.
At this time of the year, smog in Beijing, China, can be overwhelming. Throughout the city this fog/smog prevents the sun from shining through. But, the pollution problems have not clouded financial activity.
While emerging markets have been my area of focus for several decades, I also travel extensively to developed countries, too. It’s quite enlightening to see how once “emerging” countries still cherish their heritage.
My recent travels took me to Eastern Europe, where I had the opportunity to meet with colleagues and discuss the latest developments in the region. I thought I’d invite Greg Konieczny, who is based in Romania, to share some of his insights.
My colleagues and I have been championing the message that emerging markets have changed—they are no longer just commodity plays. Old economic models are undergoing a transformation in many cases, opening up exciting new investment opportunities.
In 2017, the Bank of Canada and the Bank of England joined the US Federal Reserve in raising interest rates from at or near record lows. However, Chris Siniakov and Andrew Canobi of Franklin Templeton’s Australian Fixed Income team say the Reserve Bank of Australia will likely take a more cautious approach...
Cigarettes come with warning labels. Tobacco bonds should, too. These securities are highly volatile, and at current prices they have nowhere to go but down. There are healthier alternatives in the high-yield municipal bond market.
Changing the tax code is disruptive. Some of the proposals would affect the municipal bond market if they were to become law. But it’s far from certain they will. What should investors do? Keep their cool and see what develops. And we have one more piece of advice.
Many years ago, I had visited Chile and wanted to learn more about a mining company there. Its CEO happened to be a Croatian who had immigrated to Chile and became quite wealthy. At the time of our meeting in the late 1990s, we traveled together to a large Chilean copper mine and he showed me the entire operation.