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☆ Being paid to take risks internationally, not in the U.S., says Jeff Klingelhofer
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeing paid to take risks internationally, not in the U.S., says Jeff KlingelhoferJeff Klingelhofer, Co-Head of Investments and Portfolio Manager at Thornburg Investment Management, discusses the Fed and fixed income.

Persons: Jeff Klingelhofer Jeff Klingelhofer Organizations: Investments, Thornburg Investment Management Locations: U.S

☆ Investors are hoping Big Tech earnings next week could revive a flagging bull market
▼ + stars: | 2024-04-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66

Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie

☆ Markets don't seem to care about the presidential election, but that could change soon
▼ + stars: | 2024-03-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +12 min

The election is not going to change that much either way," Roberts said. The market's moves through the year, though, could be important as they have often foretold outcomes in presidential races. Biden endorses taxing the rich whereas Trump pushed through corporate tax breaks while in office. Biden endorses taxing the rich whereas Trump pushed through corporate tax breaks while in office. The trend makes the market's moves in the months ahead potentially consequential for determining the election victor.

Persons: Joe Biden, Donald Trump, Biden, Doug Roberts, Roberts, there's, Trump, we'll, Joe Salmond, There's, Jerome Powell, Salmond, Jerome Powell's Organizations: Federal Reserve, House, Trump, Democratic, Channel Capital Research, Biden, Fed, Thornburg Investment Management, Global, Chase, White, AFP, Getty Locations: U.S, Washington, East, Russia, Wilmington , Delaware, Washington , DC

☆ The economy has to slow for us to see inflation come down: Thornburg Investment's Jeff Klingelhofer
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy has to slow for us to see inflation come down: Thornburg Investment's Jeff KlingelhoferJeff Klingelhofer, Thornburg Investment Management co-head of investments, and Maddi Dessner, Capital Group head of global asset class services, join 'The Exchange' to discuss whether February's CPI data can affect anticipated rate cuts, consumer habits amid recent inflation trends, and more.

Persons: Thornburg, Jeff Klingelhofer Jeff Klingelhofer, Maddi Organizations: Thornburg Investment Management, Capital Group

☆ Wall Street will seek confirmation the Fed is done in next week's big inflation data
▼ + stars: | 2023-11-10 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Economists polled by FactSet expect U.S. inflation to have risen just 0.1% last month and 3.3% from the year-ago period. Cracks in consumer data Investors will also watch for the October retail sales data for insight into the consumer, who has thus far proven resilient even in the face of higher interest rates and inflation. Investors will also be watching for the October producer price index (PPI) data on Wednesday, as well as housing data on Friday. Monday Nov. 13 Earnings: Tyson Foods Tuesday Nov. 14 8:30 a.m. CPI (October) 8:30 a.m. Hourly Earnings final (October) 8:30 a.m. Average Workweek final (October) Earnings: Home Depot , Charles Schwab Wednesday Nov. 15 8:30 a.m.

Persons: Amy Magnotta, It's, There's, Gregory Daco, he'll, Ned Davis Research's, Joe Kalish, NDR's Kalish, Jeff Klingelhofer, Magnotta, Tyson, Charles Schwab, John Williams Organizations: Federal, Dow Jones Industrial, Nasdaq, Federal Reserve, Ategenos, FactSet, Thornburg Investment Management, Walmart, CPI, PPI, Retail, Palo Alto Networks, Price, Philadelphia Fed, Manufacturing, . New York Federal Reserve, . Kansas City Fed Manufacturing, Ross Stores, Body, Housing Locations: . New, NAHB, . Kansas, Bath

☆ Dollar tracks Treasury yields lower as Fed stays on hold
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: +3 min

The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. However, Fed Chair Jerome Powell acknowledged that a recent market-driven rise in Treasury bond yields, home mortgage rates and other financing costs could have their own impact on the economy as long as they persist. The dollar edged broadly lower alongside U.S. Treasury yields which touched multi-week lows in early Asia trade. "This could take some time to develop and is one reason we are likely to see higher rates for longer." The move lower in the dollar brought some respite for the yen, though it remained on the weaker side of 150 per dollar.

Persons: Jerome Powell, Wells, Jay Bryson, Lon Erickson, Tom Kenny Organizations: Treasury, Federal, Fed, New, U.S, Traders, Thornburg Investment Management, Bank of Japan's, ANZ, Bank of Locations: U.S, Wall, Asia, New Zealand, Wells Fargo

☆ Investors are jumping into this bond ETF in numbers that rival the ARK Invest bubble
▼ + stars: | 2023-11-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

The furious rise in interest rates appears to be fueling a spike in trading for long-term bond products, even those focused on high quality Treasurys. While many long-term bond funds have seen recent inflows, the iShares 20+ Year Treasury Bond ETF (TLT) is extending its ETF market leadership position. The popularity of ARKK was a classic momentum trade, while bond funds have mostly been crushed over the past year. TLT YTD mountain Long-term bond funds like TLT have fallen sharply in 2023. Klingelhofer did say he was more interested in adding mid-term duration than long-term duration products, however.

Persons: Todd Sohn, ARKK, " Sohn, Sohn, Jeff Klingelhofer, Klingelhofer, Allison Bonds, it's, Bonds Organizations: Treasury Bond ETF, Innovation, CNBC, Thornburg Investment Management, State Street Global Advisors

☆ After a rough third quarter, here's what to expect from technology stocks into the end of 2023
▼ + stars: | 2023-10-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +8 min

2023's surge in technology stocks fizzled in September as rising rates put a heavy dent in the artificial intelligence-fueled rally . Over the next few weeks, Deepwater Asset Management's Gene Munster is keeping an eye on September's consumer price index and nonfarm payrolls report ahead of the start of big technology earnings later in the month. "The good news is that this should right itself once the September quarter earnings come up." Sean Sun, a portfolio manager at Thornburg Investment Management, likened the earnings season to a "gut check" on AI beneficiaries. But these drawdowns could offer opportunities for long-term investors to snatch up technology bets at bargain prices, said Nancy Tengler.

Persons: what's, behemoths, Street's, Gene Munster, Erika Klauer, Sean Sun, Paul Meeks, Nancy Tengler, Meeks, Klauer Organizations: Nasdaq, Reserve, Enphase, Lucid, ASML, Netflix, Apple, Microsoft, Devices, Nvidia, Tech, Thornburg Investment Management, Laffer, Investments, ServiceNow, Adobe, Broadcom, Oracle, Meta, Jennison, AMD

☆ Inverted U.S. yields lure investors into short-term bonds
▼ + stars: | 2023-09-25 | by ( Patturaja Murugaboopathy | ) www.reuters.com time to read: +4 min

One-year Treasury note yields are about a percentage point higher than those on 10-year bonds. That has meant global investors can avoid the relatively less liquid, longer-tenure bonds just for the sake of extra yield and premium. LSEG Lipper data shows U.S. short-term bond funds have outperformed this year, delivering a gain of 2.2% in price terms compared with an average 2.1% dip in long-term bond funds. Most analysts expect short-term bond funds to continue to lure more money in the months ahead. "We are anchoring portfolios with the higher yielding short-term bonds.

Persons: Dado Ruvic, Adam Coons, SPDR, MATURITIES, Matt Dmytryszyn, Jeff Klingelhofer, Klingelhofer, Winthrop's Coons, Patturaja Murugaboopathy, Gaurav Dogra, Vidya Ranganathan Organizations: REUTERS, Morningstar, Treasury, Reuters, Winthrop Capital Management, Federal Reserve, SPDR Bloomberg, Thornburg Investment Management, Thomson Locations: Telemus, Bengaluru

☆ China's macro backdrop has investors worried. Here are some stocks that could be safe from any weakness
▼ + stars: | 2023-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

A lackluster economic backdrop in China shouldn't keep Wall Street from buying opportunities in the world's second-largest economy, some investors say. Consumer growth bets Kirby named Yum China as one quality stock idea. He also expects Yum China could still benefit from a rebound in consumer spending in China. It's a spending category the fund manager doesn't expect will suffer from any weakness in the macro backdrop. Yum China is higher this year by more than 4%.

Persons: Ben Kirby, Kirby, Duke, It's, James Donald, Thornburg's Kirby Organizations: Thornburg Investment Management, KFC, Technology, doesn't, Lazard Investment, Lenovo Locations: China, Beijing, Botox, U.S

☆ September is the cruelest month for stocks. Pros share their trading tips — and what to buy
▼ + stars: | 2023-09-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

The pros share their expectations and tips for how investors can trade in the month ahead. The volatility isn't over The "potential bite" of aggressive Fed policy could lead to more volatility, said Richard Saperstein, chief investment officer at investment firm Treasury Partners, in a Tuesday note. Avoid tech — but not completely Avoid mega-cap tech stocks such as the "Magnificent Seven" now, the pros said, referring to Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla — tech stocks that have made massive gains this year. "Big tech stocks have run and valuations are richer than they have been. Dave Sekera, chief U.S. market strategist at Morningstar, said on Thursday that not all tech stocks are overvalued.

Persons: Richard Saperstein, Ben Kirby, CNBC's, Carol Schleif, George Ball, Sanders Morris Harris, Schleif, Ball, it's, Dave Sekera, Kirby, Thornburg, Morgan Stanley, Andrew Slimmon Organizations: U.S . Federal Reserve, Treasury Partners, Thornburg Investment Management, BMO Family Office, Apple, Microsoft, Nvidia, Tesla, Big Tech, Morningstar, Autodesk, Software, Teladoc, CNBC, CME, Hyatt Hotels, Hotels, Resorts, Hilton Hotels, Morgan, Morgan Stanley Investment, United Rentals Locations: U.S, China, Argentine

☆ 'Very robust strategy': Fund manager makes a case for dividend stocks and names 5 to buy
▼ + stars: | 2023-09-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Dividend stocks aren't evergreen, but investing in them over several years can pay off, according to one portfolio manager. He isn't the only one to appreciate dividend stocks right now. Neuberger Berman senior portfolio manager Sandy Pomeroy told CNBC earlier in August that dividend stocks haven't been this cheap since the tech boom of the 1990s. CME : Kirby expects the derivatives exchange will "benefit" from volatility in September, a traditionally weak month for stocks. TotalEnergies : The stock has a 5.5% dividend yield, 12% free cash yield, and a "great balance sheet," Kirby said.

Persons: Ben Kirby, Neuberger Berman, Sandy Pomeroy, Kirby, TSMC, Charles Schwab Organizations: Thornburg Investment Management, CNBC, Stock, Big Tech, CME, Kirby Locations: Taiwan

☆ Stocks are heading for a down August as market kicks off September with jobs report
▼ + stars: | 2023-08-25 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regardless, the major averages are set to close a losing month as higher yields and Fitch downgrades weighed on equities this month. "Further cooling in the labor market and the services sector," said Brian Ellis, portfolio manager at Morgan Stanley Investment Management. The labor report will be preceded by the July personal consumption expenditures, or PCE, report on Thursday. In fact, many investors expect that the Federal Reserve is probably done hiking rates here as policymakers await the effects of higher rates on the real economy. Increasingly, investors are looking for opportunities in income as they deal with the possibility of higher rates for longer.

Persons: Jerome Powell, Jackson, Jay Hatfield, Fitch downgrades, nonfarm, Brian Ellis, Powell, Morgan, Ellis, Ben Kirby, that's, Thornburg's Kirby, Campbell Organizations: Federal, Nvidia, Nasdaq, Dow Jones, Capital Management, Dow Jones Industrial, FactSet, Morgan Stanley Investment Management, Federal Reserve, Thornburg Investment Management, Labor, Investors, Dallas Fed, Hewlett Packard Enterprise, HP, ADP, Costco, PCE, PCE Deflator, Chicago PMI, Dollar, Broadcom, Jobs, PMI, Manufacturing Locations: , Wyoming, U.S, cautiousness, Smucker, Chicago

REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsAug 24 (Reuters) - Blackstone's (BX.N) newly established China unit has received regulatory approval to raise funds that will be invested overseas, joining other global asset managers in seeking to tap Chinese investor demand for foreign assets. Blackstone registered a fund management unit with the Asset Management Association of China under the qualified domestic limited partnership (QDLP) programme, a notice from the regulator showed. The unit, which was established in March, has seven full time employees, including five fund professionals, the notice said. The quota-based QDLP programme, first launched in 2012, allows foreign and domestic fund managers to raise money from Chinese high-net worth individuals and institutions which is then fed into offshore funds. The QDLP programme is generally more popular when the yuan is weaker.

Persons: Blackstone, Roxanne Liu, Selena Li, Edwina Gibbs Organizations: Blackstone Group, REUTERS, Asset Management Association of China, U.S, KKR KKR.N, BlackRock BLK.N, Investment, Thornburg Investment Management, Thomson Locations: New York City, U.S, China, Hong Kong, Shanghai

☆ Stocks vs. bonds: How to position from here
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStocks vs. bonds: How to position from hereCNBC's Bob Pisani with Ben Kirby, co-head of investments at Thornburg Investment Management, join 'The Exchange' to discuss investing in treasury bills rather than stocks, diversifying portfolios with treasury bonds, and the value of active management.

Persons: Bob Pisani, Ben Kirby Organizations: Thornburg Investment Management

☆ We still expect a recession later this year or early 2024: Thornburg Investment's Jeff Klingelhofer
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe still expect a recession later this year or early 2024: Thornburg Investment's Jeff KlingelhoferJeff Klingelhofer, Thornburg Investment Management co-head of investments and portfolio manager, joins 'Squawk Box' to discuss the latest market trends, why he believes investors should avoid Big Tech and focus instead on international stocks, and more.

Persons: Thornburg, Jeff Klingelhofer Jeff Klingelhofer Organizations: Thornburg Investment Management, Big Tech

☆ This winning fund puts a spin on emerging markets investing with bets from Nvidia to Chinese spirits
▼ + stars: | 2023-05-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Artisan Developing World Fund (ARTYX) is crushing the market this year by tilting the traditional investing principles in emerging markets. "These are companies that are based in developed markets but economically tied to emerging markets," Kaufman said in an interview. By domicile, Artisan Developing World Fund has just 57% of its portfolio in emerging markets. However, the emerging markets exposure should rise to 70% when looking at the economic exposure by revenue, Kaufman said. Other than those passport companies, the fund also invests in a slew of companies domiciled in emerging markets.

☆ Bond investors fearing recession, boost safety bets ahead of FOMC
▼ + stars: | 2023-05-01 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

Going long duration reflects expectations U.S. yields will fall because the Fed will be forced to cut rates. During the Fed's aggressive rate-hike phase last year, investors shortened their duration exposure. In terms of price action, U.S. 5-year yields dropped 67 bps since March, suggesting increased demand from investors. U.S. Treasuries rallied in March, pushing yields lower, as the market sought safety during the banking crisis. U.S. two-year yields, which reflect rate expectations, fell nearly 60 bps in March, the largest monthly fall since December 2007.

☆ A portfolio manager at a $41 billion investment firm explains why US stocks aren't as attractive as their international counterparts — and shares 5 recession-resistant stocks to buy now
▼ + stars: | 2023-03-29 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +8 min

Portfolio manager Emily Leveille shared 7 international stocks investors should consider buying now. After lagging behind their American counterparts for years, international equities may finally give US stocks a run for their money in 2023. Leveille is a portfolio manager who oversees the international growth strategy at Thornburg Investment Management, a firm with $41 billion in assets under management. As growth becomes more scarce during an economic slowdown, she believes that companies with resilient growth characteristics are best positioned to outperform. Another luxury brand Leveille owns is LVMH (LVMHF), which is known for its signature Louis Vuitton handbags.

☆ Watch CNBC’s full interview with Thornburg Investment CEO Jason Brady and Reynolds Strategy's Brian Reynolds
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Thornburg Investment CEO Jason Brady and Reynolds Strategy's Brian ReynoldsJason Brady, Thornburg Investment Management CEO and Brian Reynolds, Reynolds Strategy chief market strategist, join 'The Exchange' to discuss the direction of the economy and markets.

☆ Expect this summer's debt ceiling debate to drive stocks lower, says Reynolds Strategy's Brian Reynolds
▼ + stars: | 2023-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect this summer's debt ceiling debate to drive stocks lower, says Reynolds Strategy's Brian ReynoldsJason Brady, Thornburg Investment Management CEO, and Brian Reynolds, Reynolds Strategy chief market strategist, join 'The Exchange' to discuss the direction of the economy and the markets.

☆ Analysis: Rebounding U.S. dollar a growing headache for investors
▼ + stars: | 2023-03-01 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

NEW YORK, March 1 (Reuters) - Investors reeling from the recent volatility in global financial markets are eyeing another potential worry: a rebounding dollar. MSCI’s index for emerging market stocks (.MSCIEF) has slipped 8% from its January highs, while the MSCI Emerging Markets Currency Index (.MIEM00000CUS) is down 3% from its early February high. "A stronger dollar poses a problem for risk assets," said Lauren Goodwin, economist and portfolio strategist at New York Life Investments. The dollar's recent rebound has weighed on various risk assetsBecause of the dollar's central role in the global financial system, its fluctuations have widespread repercussions. Whether the dollar continues its rebound will depend in part on investors' perceptions of how much higher the Fed will need to raise interest rates.

Globally, IPOs across all sectors nosedived last year after a blockbuster 2021, as aggressive interest rate hikes by central banks to curb inflation put an end to the era of cheap money. In the biotech sector, there were only 47 IPOs last year that raised a total of about $4 billion, compared with 152 offerings in 2021 that had raised over $25 billion. While the XBI is still trading 50% below its February 2021 closing high, analysts believe the downturn in biotech has bottomed out. All we need is one or two biotech IPOs to get good interest and the floodgates will open." Reuters GraphicsThe second half of 2023 is more likely to see a significant step-up in biotech IPOs instead of the first half, as markets await further clarity on potential rate cuts, analysts said.

Feb 7 (Reuters) - Emerging market bond and equity funds received heavy inflows in January after a dry patch last year, aided by China's reopening and softening inflation pressures worldwide. According to Refinitiv Lipper data, which covers over 33,700 emerging market (EM) funds, EM equity funds received $13.2 billion, and EM bond funds obtained $11.36 billion in January. Fund flows: EM equities and bondsIn 2022, EM bond funds faced a combined net outflow of $26.26 billion. In January, the iShares Core MSCI Emerging Markets ETF and iShares JPMorgan USD Emerging Markets Bond ETF received $3.2 billion and $2.4 billion, respectively, while iShares MSCI Emerging Markets ETF and BlackRock Emerging Markets Fund; Inst obtained over $1 billion each. Initial euphoria over China's reopening has fizzled out and EM assets have seen slight declines in February.

☆ Asian shares jump, dollar eases after Powell comments
▼ + stars: | 2023-02-02 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.84% higher, while Japan's Nikkei (.N225) rose 0.37%. In the currency market, the dollar spiked lower following Powell's remarks, with the U.S. dollar index , which measures the currency against six major peers, falling to a fresh nine-month low of 100.80. The yen strengthened 0.22% to 128.65 per dollar, while sterling was last trading at $1.2372, down 0.03% on the day. The yield on 10-year U.S. Treasury notes was up 1.5 basis point to 3.413%, while the yield on the 30-year Treasury bond was up 1.3 basis point to 3.563%. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 0.2 basis point at 4.108%.

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