Income Opportunities in an Evolving Investment Landscape
Ed Perks, Chief Investment Officer of Franklin Income Investors, explores the impact of these changes on the fixed income and equity markets and offers insights regarding opportunities in different asset classes.
ISM Manufacturing Index Contracts for 16th Consecutive Month
The Institute for Supply Management (ISM) manufacturing purchasing managers index (PMI) fell to 47.8 in February from 49.1 in January. The latest figure marks the 16th consecutive month the index has been in contraction territory after a 29-month period of growth dating back to June 2020. The February reading was below the forecast of 49.5.
The Message in Bezos’ and Zuckerberg’s Stock Sales
With the S&P 500 near all-time highs, insider share sales have picked up at top-performing companies. This quarter alone, Jeff Bezos sold about $9 billion in Amazon.com Inc. stock and Mark Zuckerberg’s net sales of Meta Platforms Inc. amounted to around $850 million.
Pending Home Sales Unexpectedly Fall in January
The National Association of Realtors® (NAR) released the latest monthly data for its pending home sales index. The index unexpectedly fell 4.9% in January to 74.3. Pending home sales were expected to increase 1.4% last month.
Rethinking the EM Corporate Bond Asset Class: Insights for Insurers
Looking into 2024, we believe the market’s expectation of a global easing in liquidity could be an incremental tailwind to EM debt’s 2023 resilience—over and above the persistent spread premium we see in EM corporate debt.