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Economic Outlook

2017 Global Investment Outlook – September Update: Time To Reset Expectations?

Date: September 2017

Global markets have been relatively calm this summer despite many uncertainties. Geopolitical risks have continued across the globe, and in some areas, looming monetary policy changes also appear likely. A key question for many investors is whether the sleepy summer period of low volatility will give way to a more turbulent autumn. Franklin Templeton's senior investment leaders offer their perspective on the markets, and discuss where they see opportunities and risks ahead.

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Topic Papers

DateTitleFormat
October 2017

Global Economic Perspective

This month, drivers of solid US economic expansion remain in place, backdrop still upbeat across most of the global economy, German election shows populism retains influence in European politics.
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October 2017

GCC Bonds: A Value Proposition in the Search for Alpha

GCC Fixed Income Is an Overlooked Asset Class, The GCC Is an Attractive Bond Market Benefiting from Solid Fundamentals and How GCC Fixed Income May Fit into a Traditional Portfolio and Asset Allocation Framework.
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September 2017

Global Economic Perspective

This month, short-term concerns mask robust US economic fundamentals, further evidence of synchronized recovery across the global economy, ECB flags tapering amid stronger growth but weak.
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August 2017

Global Economic Perspective

This month, healthy backdrop for US consumers and corporates underpins solid but modest growth; Asian economies’ performance indicative of improved global economic growth; Eurozone data strong but ECB keeps monetary policy unchanged.
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August 2017

Property Markets: The Quarter in Review

An exploration of the macroeconomic environment and notable real estate sectors in the United States, Europe and Asia over the second quarter of 2017, identifying opportunities across the landscape.
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July 2017

Global Economic Perspective

This month, robust US economic fundamentals support Fed’s gradual tightening of monetary policy; selloff in global bond markets follows central bank comments; Draghi speech unsettles markets amid upbeat eurozone economic data.
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July 2017

Actively Benefiting from Emerging-Market Small Caps

The Templeton Emerging Markets Group believes that the emerging-market (EM) small-cap space is an attractive proposition in the current investment climate. However, there are some common misconceptions regarding the asset class which, in their view, conceal key strengths that an active manager could benefit from.
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June 2017

Global Economic Perspective

This month, US economy set to rebound from weak start to 2017 as fundamentals remain solid; global economy showing general improvement but commodity markets volatile; and positive Eurozone data and French election result boost sentiment.
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June 2017

2017 Global Investment Outlook – June Update: Uncharted Terrain: Today’s Global Market Drivers

Our 2017 Global Investment Outlook spotlights our investment expertise from four key areas central to many of our clients’ portfolio decisions: global macro, multi-sector fixed income, global equity and emerging-market equity.
Summary
May 2017

Global Economic Perspective

US Economy Set to Rebound from Weak Start to 2017 as Fundamentals Remain Solid, Global Economy Showing Gradual Improvement But Commodity Markets Volatile and Positive Eurozone Data and French Election Result Boost Sentiment.
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May 2017

Property Markets: The Quarter in Review

An exploration of the macroeconomic environment and notable real estate sectors in the United States, Europe and Asia over the first quarter of 2017, identifying opportunities across the landscape.
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April 2017

Global Economic Perspective

This month: Broader growth across US economy provides solid backdrop for further interest-rate hikes; softer US dollar boosts many emerging markets, but global growth still looks slow and steady; and inflation slowdown strengthens ECB case for resisting calls to change monetary policy.
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April 2017

Hedge Fund Strategy Outlook – Second Quarter

The Research and Portfolio Construction teams at K2 Advisors discuss the market outlook after the Trump Bump and their top convictions: Long Short Equity – Europe, Relative Value – Fixed Income and Event Driven Strategies.
Summary
March 2017

Global Economic Perspective

This month: Investors adjust to March rate hike, but US growth set to remain modest for now; China announces growth target for 2017, and oil prices dip as US production increases; and political uncertainty likely to overshadow rising inflation for ECB policymakers.
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March 2017

2017 Global Investment Outlook – March Update: Beyond the Headlines: Finding Opportunities in Today’s Markets

Our senior investment leaders reconvene to offer their perspectives on the events shaping the global markets, the implications for investors and where they see opportunities ahead.
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February 2017

2017 Long-term Capital Market Expectations

Franklin Templeton Solutions’ annual macro outlook and long-term return expectations across global capital markets. The team outlines their six strongest convictions for the year ahead.
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February 2017

Property Markets: The Quarter in Review

An exploration of the macroeconomic environment and notable real estate sectors in the United States, Europe and Asia over the fourth quarter of 2016, identifying opportunities across the landscape.
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February 2017

Global Economic Perspective

This month: US Economic Fundamentals Constructive, but Political Realities Suggest Year of Moderate Growth; Stability of Chinese Economy Bodes Well for Slight Improvement in 2017 Global Growth; Increases in European Grow th and Inflation Unlikely to Sway European Central Bank (ECB).
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January 2017

Global Economic Perspective

This month: Solid economic backdrop awaits new US administration; confidence picks up across global economy, helped by rising commodities; and inflation rises ahead of crowded European political calendar.
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January 2017

Hedge Fund Strategy Outlook – First Quarter

The Research and Portfolio Construction teams at K2 Advisors explain how higher dispersion following the US presidential election has created reasons for optimism in hedge strategies.
Summary
December 2016

Global Economic Perspective

This month: US election result moves markets, and the US Federal Reserve raises rates as expected; emerging markets hit by rising US yields and strong dollar; and the European Central Bank extends timeframe for monetary easing following Italian referendum result.
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November 2016

Global Economic Perspective

This month: Uncertainty ahead of Trump administration, but fundamentals remain constructive; divergence in monetary policies between world’s leading central banks likely to remain intact; and Eurozone bond yields rise but European Central Bank likely to adjust rather than signal end of quantitative easing.
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November 2016

Property Markets: The Quarter in Review

An exploration of the macroeconomic environment and notable real estate sectors in the United States, Europe and Asia over the first quarter of 2016, identifying opportunities across the landscape.
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November 2016

Key Takeaways on the US Election: What the Trump Presidency May Mean for Portfolios

Our senior CIOs share their views about what the change in administration may mean to investors. Key topics include potential changes to trade policies, potential economic policies and central bank actions, and market sector impacts.
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November 2016

Hedge Fund Strategy Outlook – Fourth Quarter 2016

This quarter, the Research and Portfolio Construction teams identify their top convictions for the remainder of the year and discuss how favorable dispersion presents opportunity for hedge strategies.
Summary

 

Archive

DateTitleFormat
September 2016

South America Shows Value of Patience When Sifting EM Contenders, a Financial Times Article Reprint

Dr. Michael Hasenstab discusses the proprietary formula his team uses — called the Local Markets Resilience Index (LMRITM) — to help evaluate the fundamental strength of different emerging market countries. He applies this analysis to South American countries, including Brazil, Colombia and Venezuela, to explain where he sees opportunities.
Summary
February 2016

Global Macro Shifts: Inflation: Dead, or Just Forgotten?

In this edition of Global Macro Shifts, Templeton Global Macro team provides compelling evidence that challenges widespread fears of deflation across the global economy.
Summary
August 2016

An Overlooked Opportunity — Why Global Mid-Caps Make Sense Now and for the Longer Term

Why global mid-caps and some large-caps, particularly those high quality sustainable growth names, could create opportunities in a still sluggish economic recovery.
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August 2016

Property Markets: The Quarter in Review

An exploration of the macroeconomic environment and notable real estate sectors in the United States, Europe and Asia over the first quarter of 2016, identifying opportunities across the landscape.
PDF
July 2016

Hedge Fund Strategy Outlook – Third Quarter 2016

Our quarterly outlook containing K2 Advisors’ strongest conviction views, proprietary scoring and commentary across various hedge fund strategies. K2 Advisors Research and Portfolio Construction teams continue to have high conviction for Long Short Equity and Merger Arbitrage strategies. Within the Global Macro strategy, the teams have elevated Emerging Markets into their top three convictions for the quarter ahead.
Summary
July 2016

Why It is Time to Consider Global Real Estate Securities

An allocation to global listed real estate has been shown to provide attractive historical performance and diversification potential when included alongside global equities and fixed income and attractive yields in the current low interest-rate environment.
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January 2016

2016 Investment Outlook

High-level market insights for the coming year, featuring senior leaders from three key areas central to many investors' portfolio decisions: global macro, global equity and long-term capital markets.
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November 2015

Global Macro Shifts: Japan: The Quest for Growth and Inflation

This edition of Global Macro Shifts takes a fresh look at Japan, breaking down the factors that have brought Japan to a crossroads and the obstacles the economy still faces.
Summary
September 2015

Notes on Recent Global Financial Market Volatility

The underlying causes of recent market volatility appear driven by market reactions to conditions in China, particularly the depreciation of the yuan, the decline of the stock market and broader economic concerns.
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September 2015

Update on Canadian Equity Markets

Key themes influencing Canadian equities in the last 12 months.
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July 2015

Global Macro Shifts: China: Searching for a New Equilibrium

China has reached a crucial stage in its economic evolution. This edition of Global Macro Shifts provides an in-depth look at the challenges and opportunities China faces as it continues to grow.
Summary
May 2015

Canadian Energy Market Commentary

Perspective from Franklin Bissett Investment Management on evolving changes in the Canadian energy sector.
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April 2015

Global Bonds: Actively Positioned for Rising US Interest Rates

How has Templeton Global Macro actively positioned their portfolios to gain from rising US Treasury yields as well as hedge against global risks in developed and emerging bond markets?
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January 2015

Winners and Losers from Oil Price Decline

Templeton Global Macro’s Michael Hasenstab and Sonal Desai delve into the widespread global impact of falling oil prices.
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January 2015

Canadian Energy Market Commentary

Franklin Bissett portfolio managers Garey Aitken and Les Stelmach highlight some of the risks and opportunities for Canadian investors created by the sharp oil price decline.
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