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Fed Gives US Interest Rates Another Bump in June
by Christopher Molumphy of Franklin Templeton Investments, 6/14/18

The US Federal Reserve continued its tightening path at its June policy meeting, raising its benchmark interest rate for the second time this year and seventh time since December 2015. Chris Molumphy, chief investment officer, Franklin Templeton Fixed Income Group, offers us a snapshot of the US monetary policy landscape in the wake of the meeting.

Global Economic Perspective: May
by Christopher Molumphy, David Zahn, John Beck, Michael Materasso, Roger Bayston of Franklin Templeton Investments, 5/22/18

In this month's Global Economic Perspective, our Fixed Income Group opines on rising energy prices, US Treasury yields, emerging-market currency pressures and global economic growth.

Talking Trade Tensions, Inflation and Volatility
by Stephen Dover, Christopher Molumphy, Edward Perks of Franklin Templeton Investments, 5/11/18

Global growth has been accelerating, but there are a few potential headwinds that could cause it to stall. Three of our senior investment leaders—Ed Perks, Chris Molumphy and Stephen Dover—recently participated in a panel discussion on the potential impact of trade tensions, inflation and other issues on their radar.

Will the Roar of Market Tensions Tame Global Growth?
by Stephen Dover, Christopher Molumphy, Edward Perks of Franklin Templeton Investments, 5/8/18

The first quarter of 2018 started out like a lamb but went out like a lion as long-dormant volatility began to roar. Issues like inflation fears, trade tensions and geopolitical risks contributed to market turbulence, leaving many investors wondering whether these issues will put a damper on global growth—and end the US market’s nine-year bull run.

In the Know: Trump’s Fed Chair Pick Seen as Market Positive
by Christopher Molumphy of Franklin Templeton Investments, 11/6/17

Janet Yellen’s term as US Federal Reserve (Fed) chair ends early next year, and President Donald Trump decided not to extend her tenure as head of the US central bank. His pick to lead the Fed is Jerome Powell.

Global Economic Perspective: July
by Christopher Molumphy, David Zahn and John Beck, of Franklin Templeton Investments, 7/22/17

In this month’s Global Economic Perspective, Franklin Templeton Fixed Income Group dives into diverging central bank policy and weighs in on whether the European Central Bank is likely to be less accommodative—and what its timing might look like.

Uncharted Terrain: Today’s Global Market Drivers
by Christopher Molumphy, Edward Perks, Michael Hasenstab, Stephen Dover of Franklin Templeton Investments, 6/15/17

Despite some uncertainties, economic improvements in developed and emerging markets have supported a positive mood across both equity and fixed income this year.

Why Fixed-Income Investors Shouldn’t Fret About Fed Tightening
by Christopher Molumphy of Franklin Templeton Investments, 3/16/17

Following the Federal Reserve’s decision to raise interest rates at its March policy meeting, Franklin Templeton Fixed Income Group CIO Chris Molumphy weighs in on why fixed-income investors shouldn’t fret.

In the Know: Fed Lifts Rates, but “Lower for Longer” Likely
by Christopher Molumphy of Franklin Templeton Investments, 12/15/16

The markets can finally put the US interest-rate debate to bed (at least for the time being) as the Federal Reserve lifted its benchmark short-term lending rate for the first time in a year.

America Decides: A Vote for Change
by Christopher Molumphy of Franklin Templeton Investments, 11/9/16

The next 100 days are critical for the newly elected officials in the United States, and we will continue to gain clarity on many policy items over that timeframe. There is no doubt that this election, and outcome has challenged the status quo and we could see even small issues become larger should impasses persist.

A More Accommodative Fed
by Christopher Molumphy of Franklin Templeton Investments, 3/23/16
While market consensus currently seems unconcerned about inflation, we know this could change quickly. Longer term, we certainly think higher-than-anticipated US inflation is a potential risk.

Seeing the Silver Lining for Fixed Income in Fed Move
by Christopher Molumphy of Franklin Templeton Investments, 12/21/15
As we look ahead to 2016, we finally have entered this long-anticipated rising-rate environment. However, it’s likely to be slow and steady, and certainly not something we believe should cause major portfolio dislocations for fixed income investors.

Federal Reserve Kicks the Can on Interest Rates
by Christopher Molumphy of Franklin Templeton Investments, 9/21/15
We were a little disappointed the Fed didn’t take action, primarily because we think the longer the Fed stays on hold the longer we will have uncertainty in the marketplace.

Global Economic Perspective: January
by Christopher Molumphy, Michael Materasso, Roger Bayston, Michael Hasenstab, John Beck of Franklin Templeton Investments, 1/28/15
After a much better-than-expected annualized growth rate of 5% in the third quarter of 2014, the stars would seem to be fairly much aligned for continued US growth in the months ahead. Job growth has continued apace, interest rates and energy prices have remained low, and consumer and business confidence has been buoyant. As we start the new year, the main areas of uncertainty would seem to be the pace of growth and the implications of recent price and employment trends for the timing of monetary tightening by the US Federal Reserve (Fed).

Global Economic Perspective: December
by Christopher Molumphy, Michael Materasso, Roger Bayston, Michael Hasenstab & John Beck of Franklin Templeton Investments, 12/27/14
With 321,000 jobs added, the initial US nonfarm payroll report for November was much stronger than markets expected and brought job growth this year close to levels last seen in the late 1990s. Added to upward revisions in September and October jobs data, the nonfarm payrolls data reinforces the view that whatever is occurring in the rest of the world, the US economy appears to remain firmly on track to record reasonably strong growth in the months ahead. And while fourth-quarter gross domestic product (GDP) growth this quarter for the United States is expected to be lower than the third-quart

Global Economic Perspective: November
by Christopher Molumphy, Michael Materasso, Roger Bayston, Michael Hasenstab & John Beck of Franklin Templeton Investments, 11/26/14
Steady improvements in US employment and relatively good economic growth figures mean that debate over when the US Federal Reserve (Fed) will begin to tighten policy continues to be the order of the day. US job growth increased at a fairly brisk pace in October, and numbers for the previous two months (already good) were revised higher. Since the start of 2014, US employers have added more than 220,000 workers on average each month, which should be sufficient to sustain economic momentum after an initial reading showed annualized gross domestic product (GDP) growth of 3.5% in the third quarter

Reading Fed Tea Leaves
by Christopher Molumphy of Franklin Templeton Investments, 9/26/14
Monetary policy is of keen interest to fixed income investors, and the US Federal Reserve (Fed) has been known to be particularly obtuse when it comes to interest-rate talk. One thing is clear: The Fed is winding down its longstanding quantitative easing (QE) program. Whats not so clear: when the Fed will actually raise short-term interest rates.

Perspectives from the Franklin Templeton Fixed Income Group
by Christopher Molumphy, Michael Materasso, Roger Bayston, Michael Hasenstab, and John Beck of Franklin Templeton Investments, 7/19/14
In early July, there was a noticeable disconnect between the median forecast of Fed officials for interest rates by end-2015 and the markets forecast, as expressed in the federal funds futures rate. But if unemployment continues to decline and inflation to pick up in the coming months, the danger for bond market participants is that their predictions for interest rates may be too low and will have to be adjusted.

Fixed Income Outlook: Moving From Zero
by Christopher Molumphy, Roger Bayston of Franklin Templeton Investments, 7/18/14
Some prior market prognostications of rising rates have proven slow to play out as global central banks, namely the Bank of Japan and European Central Bank (ECB), have continued to ramp up easing measures and the US Federal Reserve (the Fed) has only slowly begun to lay off the gas pedal recently.

Labor Market Clues for Bond Investors
by Christopher Molumphy of Franklin Templeton Investments, 3/31/14
When the US Federal Reserve (Fed) began tapering early this year, the general assumption was that investors would flee en masse from fixed income investments. Certainly, there has been some volatility in Treasury yields, most recently after Fed Chair Janet Yellen suggested interest rates could start to rise around six months after tapering ends ? which would be somewhat sooner than many were expecting.

Fed in Holding Pattern, but for How Long?
by Christopher Molumphy of Franklin Templeton Investments, 11/5/13
At its October 29-30 policy meeting, the US Federal Reserve (Fed) again put off the so-called tapering of its $85 billion-a-month asset purchase plan, now over a year old, until some future date. In an official statement released at the conclusion of the meeting, the Fed cited fiscal policy issues as restraining growth and said it will continue its quantitative easing program (known as QE) until the job market improves substantially.

Weekly Economic Commentary
by Christopher Molumphy of Northern Trust, 10/18/13
Closing the books on the U.S. budget... for now; Do we need a debt ceiling?; Study of financial market function earns the Nobel Prize.

Fixed Income Fed Insight: It's All About Employment
by Christopher Molumphy of Franklin Templeton Investments, 7/19/13
We can try to guess what the Fed is thinking, but ultimately the Fed is driven by inflation and the labor markets. With inflation seemingly under control, its really the labor markets that dominate. So if you want to know what the Feds going to be doing, look at the labor markets how many jobs we create each month and, most importantly, the unemployment rate.

New Year's Vantage Point: Christopher Molumphy
by Christopher Molumphy of Franklin Templeton Investments, 1/15/13
For a view on the U.S. and global fixed income market and potential opportunities therein, we turn to Christopher Molumphy, CFA, chief investment officer of Franklin Templeton Fixed Income Group.
24 results found.