As investors continue to step out of cash and potentially rebalance out of equities following their strong performance, we expect bonds to play a larger role in diversified portfolios next year.
Bond traders have rarely suffered so much from a Federal Reserve easing cycle. Now they fear 2025 threatens more of the same.
This is the first part of a series of Bloomberg Opinion columns exploring the risks related to the US’s rapidly expanding debt and budget deficit.
Macroeconomic uncertainties prompted the Federal Reserve to signal a slower pace of policy rate cuts in 2025 and beyond.
We expect the opportunity set to widen for income investors in 2025, though less clarity around the second half requires a dynamic approach.
As the year comes to a close, we revisit some of the key market themes and moves for 2024 and the year ahead.
Despite the expectation of rate cuts, a push-pull dynamic could exist if high inflation continues, opening the door for short-term bonds.
US Treasuries gained after a closely watched batch of inflation data came in below expectations, leading traders to lift the outlook for Federal Reserve interest-rate reductions next year.
Central banks’ climbdown from the post-pandemic inflation peaks commenced amid both optimism and trepidation.
As expected, the Fed delivered a 25-basis point rate cut at the December FOMC meeting, but what comes next is far from clear. Kevin Flanagan explains why future rate moves depend on shifting economic signals and why the Fed’s definition of “neutral” may be evolving.
Taxes are on my mind. Do I factor in whether a dividend is considered qualified or ordinary when making my recommendations?
On Friday December 6th, the U.S. stock market pushed to the most extreme level of valuation in U.S. history
Almost exactly one year after sparking a furious rally in financial markets, Federal Reserve Chair Jerome Powell did the exact opposite on Wednesday, staking out a cautious view on interest-rate cuts in 2025 that stunned investors.
Existing-home sales in the US topped a rate of 4 million in November for the first time in six months as house hunters begrudgingly accept mortgage rates above 6%.
As cash yields dwindle, the case for fixed income becomes increasingly compelling.
The range of potential economic outcomes is wide, but a solid starting point suggests resilience.
A conversation with our stock selection team, part two.
Some bond traders have been boosting options and futures wagers that the Federal Reserve is about to signal deeper interest-rate cuts next year than the market anticipates.
Brent Olson and Thomas Ross, fixed income portfolio managers, believe that high yield bonds offer comfortable driving for now, but investors might need to negotiate more difficult terrain later in 2025.
Last weekend, the Cathedral of Notre Dame reopened after being severely damaged in a fire five years ago. It took thousands of craftsmen and a reported €840 million to restore the iconic structure.
VettaFi discusses the significant improvement in MLPs over the last decade.
We expect gears to shift as potential policy changes under the Trump administration add to uncertainty about inflation and the global economy.
Every year, most investors face a near-certain reality: taxes on their investment portfolio.
How a diversified liquidity strategy might help time-strapped corporate treasurers reduce vulnerabilities and improve adaptability in uncertain markets while maintaining access to cash.
In his 2025 investment outlook, Portfolio Manager John Lloyd shares his views on the attractiveness of a multi-sector approach to fixed income investing.
Rice paddies that lay fallow for decades in some of Japan’s most far-flung regions are now its hottest properties.
At some, point a steepening yield curve will result, leading to yield opportunities for long-term bond exchange-traded funds.
Emerging-market currencies in Asia and the South African rand retreated as China’s policy makers appeared to disappoint investors expecting fiscal measures to boost the economic outlook.
Portfolio managers and market strategists from Payden & Rygel review the opportunities and risks ahead for four bond market sectors: high yield, emerging markets, global bonds and low duration securities.
In his 2025 investment outlook, Head of U.S. Securitized Products John Kerschner shares his U.S. securitized outlook, identifying the key trends he believes will drive investment returns in the year ahead.
Fixed income markets face key questions that will shape their direction in 2025. This post explores these questions & their potential impact.
We expect high yield bond issuers to maintain healthy balance sheets and defaults to remain low.
Our outlook on the 11 S&P 500 equity sectors.
An enduring image from 2024 will be the capture of the SpaceX booster rocket by the Mechazilla robot arms on its return to Earth. This achievement served as a powerful metaphor for the year: the improbable not only became possible but redefined expectations.
Better than expected economic data in November appears to be thwarting the FOMC's efforts to engineer lower short-term interest rates.
Riverfront's stock selection team performs analysis on individual equities that provides useful insights into how we position our portfolios.
US consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week.
US Treasuries gained and traders boosted their bets on a Federal Reserve interest-rate reduction next week after a report showed consumer prices last month accelerated in line with expectations.
We examine how a potentially complex bond market in 2025 could still offer opportunities in high-yield bonds, municipal bonds, and inflation-protected securities.
December is a big month for stock buybacks, and by month’s end, companies are expected to spend more money repurchasing shares this year than ever before.
Strong 2024 performance may be tough to replicate given tight credit spreads, but we still have a favorable view on corporate bond investments given the strong economy.
On the latest edition of Market Week in Review, Investment Strategist BeiChen Lin discussed the ouster of France’s prime minister and the potential market implications. He also provided an update on the health of the U.S. economy.
Last week we processed robust economic data and growing clarity on Federal Reserve policy, instilling a consensus view for a strong market that is now well reflected in positioning.
Amid concerns about the impact of rising deficits on U.S. Treasuries, it helps to differentiate bond investments by maturity, credit rating, and global relative value.
As the office buildings market faces headwinds, investors look to alternative sectors.
We believe municipal bonds currently offer a compelling balance of risk and reward for investors in higher tax brackets.
Just a few short years (months?) ago, few would have believed it possible. But it happened: Bitcoin has traded above $100,000 for the first time ever.
U.S. policies are set for a major reshaping as full Republican control takes hold in 2025.
CEO Ali Dibadj highlights the three macro drivers that investors must navigate in 2025 and beyond, as well as the importance of actively positioning for a brighter investment future.
Five of Franklin Templeton’s specialist investment managers provide their annual outlooks for the global economy and key asset classes, including global equities; global fixed income; global infrastructure; the macro fixed income environment; municipal bond market; high yield bond market; small cap equities; U.S. dollar; U.S. economy; and U.S. equities.
