What Happened To My Intermediate Term Bond Fund?

Morningstar recently made changes to its Intermediate Term Bond Fund Category. Matt explains the change and what it means for your portfolio. Fund categories play an important role for portfolio builders by helping them know what they own and also set expectations for risk and returns. Investors looking for a bond fund for the core…

Podcast: Market Resilience: Strength In Numbers

By Sonal Desai, Ph.D., Executive Vice President, Chief Investment Officer, Franklin Templeton Fixed Income; Edward D. Perks, CFA, Executive Vice President, Chief Investment Officer, Franklin Templeton Multi-Asset Solutions; Michael Hasenstab, Ph.D., Executive Vice President, Chief Investment Officer, Templeton Global Macro; Stephen H. Dover, CFA, Executive Vice President, Head of Equities Concerns about where the financial…

The Queen Of Spades

“Luck is believing you’re lucky.” – Tennessee Williams While enjoying a much-needed short break from blogging, hence our uncommon silence, we still managed to follow the macro news such as February’s anemic 20,000 new jobs creation in the United States from the latest nonfarm payroll report (when 180 K was expected). With global negative yielding…

A Closer Look At Debt And The Economy

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Interest Rate Outlook: U.S. Treasuries Likely To Be Stuck Between Better-Than-Expected Growth And A Dovish Fed

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The Wolf Street Report: January 20, 2019

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Keeping Bonds As A Buffer

Last year was unusual: U.S. equities and 10-year Treasuries both finished down, as heightened economic and geopolitical uncertainty and expectations for higher short-term rates drove markets. We see growth as the key market driver in 2019. This suggests Treasuries may offer more diversification benefits as a buffer to bouts of equity weakness. Chart of the…

How The Federal Reserve Sees The Economy

Officials at the Federal Reserve moved ahead and raised the policy target range for the Federal Funds rate to 2.25 percent to 2.50 percent. I think that it important to see that the vote for this change was unanimous, showing the desire of the leaders of the Fed to show President Trump, and the world,…

Every Bubble Is In Search Of A Pin

Now that the world’s central banking cartel is taking a long-overdue pause from printing money and handing it to the wealthy elite, the collection of asset price bubbles nested within the Everything Bubble are starting to burst. The cartel (especially the ECB and the Fed) is hoping it can gently deflate these bubbles it created,…

Cue The Bad

When the FOMC published the minutes for their November policy meeting, they included an unusually lengthy discussion about federal funds (effective) and IOER. I have no doubt that policymakers would rather have skipped the topic altogether. Demonstrating how little they actually control matters, the plight of EFF has forced them into an almost detailed digression.…