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Municipal bonds, favored for their tax-free income, are looking at a solid year in 2024 and could be a compelling purchase for investors hoping to lock in attractive yields. "We will likely see positive total returns," said Cooper Howard, fixed income strategist at the Schwab Center for Financial Research. "Munis are one of the best things going in the fixed income space," he said. It provides all the attributes of fixed income, and it serves as ballast to an overall diversified portfolio." Naturally, rates are on the minds of fixed income investors and strategists, as well as recession risk.
Persons: Cooper Howard, who've, Peter Higgins, Ben Barber, Schwab's Howard, Paul Malloy, It's, Beth Foos, Malloy, Howard, you've Organizations: Schwab Center, Financial Research, Morningstar U.S, Municipal, Shelton Capital Management, York Life Investments, Franklin, AAA, Vanguard, Bond, Morningstar Locations: New York , New Jersey, California
I was shocked at how many dresses she had for the wedding and asked her how she did it. She told me she rented them on a platform called By Rotation , a website where you can rent out clothes and accessories. Over the past 18 months, I have made over £21,392, or nearly $27,000, by renting on By Rotation and Hurr. AdvertisementI reinvest some of my rental earnings to buy more inventoryI reinvest some of my rental income by buying a couple of dresses a month, building my inventory. Make your wardrobe work for you, but don't rent out items with sentimental attachments on the rare chance they get damaged.
Persons: , Jessica Templeton, Jess, It's, Templeton, Jess Templeton, I'm, I've Organizations: Service, Business Locations: Buckinghamshire, England, London
Coinbase shares have even further to climb despite already being up 13% since the start of December and the low appetite for crypto coming from retail investors, according to Needham. Needham raised its price target on Coinbase on Tuesday to $160 from $120, implying about 13% upside from its closing price Monday. Meanwhile, although retail investors' appetite for crypto has improved since bottoming a year ago after the collapse of FTX, interest is generally low, according to Needham. "Retail crypto engagement is considerably lower than in prior years and despite the recent price gains, has been fairly muted," Todaro said. Dominance tends to rise in bear markets as investors rotate into the safety of bitcoin compared to other crypto coins .
Persons: Needham, John Todaro, Todaro, Coinbase, Franklin Templeton, Michael Bloom Organizations: U.S . Department of Justice, Apple Locations: Needham, U.S, BlackRock, WisdomTree, bitcoin
Coinbase has the added benefit of having survived the so-called crypto winter, while so many of its rivals disappeared or downsized. Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. With assets of more than $65 billion on the platform, Binance remains the world's largest crypto exchange globally. watch nowBoth Coinbase and Binance still face legal battles with the Securities and Exchange Commission, which was noticeably absent from the Binance settlement. Regulatory approval would open up many more avenues for people to buy bitcoin.
Persons: Brian Armstrong, Carlos Jasso, Coinbase, Sam Bankman, FTX, Changpeng Zhao, Zhao Changpeng, Binance, Zhao, CoinGecko, Mizuho, it's, CNBC's Joumanna, Armstrong, Bittrex, JPMorgan Chase, Franklin Templeton Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Tech, Reuters, Justice Department, CNBC, Mizuho, Securities and Exchange Commission, U.S, SEC, JPMorgan, WisdomTree Locations: U.S, Binance, Needham, BlackRock, WisdomTree
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRisk reduction will lead to higher inflows in 2024, says Franklin Templeton’s Jennifer JohnstonJennifer Johnston, SVP and director of municipal bond research Franklin Templeton, joins 'The Exchange' to discuss the state of muni bonds, the impact of interest rates, and more.
Persons: Franklin Templeton’s Jennifer Johnston Jennifer Johnston, Franklin Templeton Locations: muni
Investors who hope to generate portfolio income while recession fears ramp higher can seek some safety in municipal bonds. Wells Fargo Investment Institute recently issued its fixed income guidance for 2024, forecasting "higher for longer" rates across the yield curve as the Federal Reserve remains vigilant to bring down inflation. Municipal bonds offer a combination of characteristics that appeal to investors: General obligation bonds are backed by the revenue of the municipality issuing them. "Going into a slowdown, you anticipate rates to fall," said Brian Rehling, head of global fixed income strategy at Wells Fargo Investment Institute. The top marginal income tax rate is 13.3% in California and well over 10% in New York and New Jersey.
Persons: Brian Rehling, Jennifer Johnston, Franklin Templeton, Johnston Organizations: Wells, Wells Fargo Investment Institute, Federal Reserve, Fargo Investment Institute, AAA, Muni Bond ETF, Vanguard, Bond, Fed, New York Life Investments, Investors, York State, Metropolitan Transportation Authority Locations: Wells Fargo, Fargo, New, California, New York, New Jersey, York
Industry insiders are cheering the end of a "CZ"-led Binance as a necessary move for crypto going forward. Some say it was perhaps even critical for what could be the next big step for the industry: the approval of a bitcoin ETF. Having this settlement behind us could be the final big, big step needed for this ETF." The crypto industry has long sought the creation of a bitcoin ETF (efforts to launch one go back at least a decade). "Binance is globally the major liquidity pool for crypto trading despite losing market share this year," she said.
Persons: Zhao, Binance, , Franklin Templeton, Michael Rinko, Sam Bankman, Fried, Rinko, Sam Callahan, Callahan, Yesha Yadav Organizations: Industry, Department of Justice, , Fidelity, Delphi, Securities, Exchange Commission, Binance, CZ, DOJ, Futures Trading Commission, Treasury Department, BlackRock, Invesco, Ark, Vanderbilt University Law School Locations: BlackRock
Ten-year Treasury yields hit a 16-year high of 5.021% in late October, but have fallen back to 4.414%. Some big investors and advisers believe, however, that reasons to cheer are short-lived and growing concerns over the economy will start weighting on asset prices early next year. His focus now is more on earnings, credit markets and broader economic data for signs of a potential slowdown. The U.S. presidential race next year is also a concern because it could be a source of more market instability. For a new boost in market performance, tech stocks will depend more on showing how AI can lift results, investors said.
Persons: We've, Ryan Israel, Bill Ackman's, Mohamed El, Peter van Dooijeweert, Max Gokhman, Franklin Templeton, Bill Gross, van Dooijeweert, Carolina Mandl, David Randall, Svea, Bayliss, Megan Davies, Leslie Adler Organizations: Nasdaq, Bill Ackman's Pershing, Capital Management, Allianz, Group's Solutions, U.S, Reuters, Microsoft, Wall, Svea Herbst, Thomson Locations: extrapolating, U.S, China
Actively managed exchange-traded funds are having their time in the limelight as ETF managers seek new strategies beyond passive funds. "But with active management, you can differentiate assuming the active manager is actually doing something meaningfully different than the underlying benchmark," he added. While active ETFs have been around since 2008, the popularity took off in 2019 after the SEC eased launch restrictions. So far this year, the number of active ETFs that have launched have already overtaken passive ETFs by a ratio of three to one, according to Morningstar. While it's the firm's first active ETF, GMO has run a traditional actively managed mutual fund called the GMO Quality Fund (GQETX) since 2004.
Persons: Nate Geraci, Morningstar, Franklin, It's, Tom Hancock, we've Organizations: Edge, SEC, Asset Bond, Quality
The rise of Treasury yields since 2022 has delivered a major boost to the tokenization of real-world assets. The total value of on-chain, real-world assets sits at $118.6 billion, according to Fundstrat. AdvertisementAdvertisementThe breathless rise of Treasury yields since 2022 has delivered a major boost to the tokenization of real-world assets. AdvertisementAdvertisementRight now, the total value of on-chain, real-world assets sits at $118.6 billion, according to Fundstrat. But the tokenization of real-world assets onto the blockchain is a newer trend that's picking up steam.
Persons: It's, , Franklin Templeton, Tom Couture, SWIFT, Couture, Lee Bratcher, Bratcher, Fundstrat Organizations: Service, Boston Consulting Group, JPMorgan, BlackRock, Barclays, Texas Blockchain Locations: tokenize, Texas
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 10 (Reuters) - A hawkish lean from Federal Reserve Chair Jerome Powell chilled a recent rebound in stocks and bonds, with some investors suggesting the central bank was pushing back against loosening financial conditions. Some investors said Powell may have been leaning against a recent loosening of financial conditions that has come as yields have tumbled in recent weeks. Evidence of the dynamic between yields and financial conditions - factors that reflect the availability of funding in an economy - was on display in last week's 0.5% decline in the Goldman Sachs Financial Conditions Index, its sixth-biggest weekly drop since 1990. "If their concept is to have tighter financial conditions, they can’t really let those yields go down. "The rally of the markets both in equity and fixed income unwound the financial conditions tightening to a large degree," Desai said.
Persons: Jerome Powell, Brendan McDermid, Powell, Charlie Ripley, Powell …, Spencer Hakimian, Sonal Desai, Franklin, Desai, Vassili Serebriakov, Jeffrey Roach, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Karen Brettell, Ira Iosebashvili, Sam Holmes Organizations: Economic, of New, REUTERS, International Monetary Fund, Treasury, Allianz Investment Management, Goldman, Tolou Capital Management, UBS, Investors, LPL Financial, Thomson Locations: of New York, New York City, U.S, New York
With the economy slowing and adding fewer jobs, banks are anticipating more consumers could default on credit-card payments and mortgages, hurting profits. "(Canadian banks) are running a little bit tighter in capital than they have in the past," said Adrienne Young, director of corporate credit research at Franklin Templeton Canada. "I don't see them having to go out and raise equity... I think the banks will use other tools in their toolbox before having to go and raise equity," said Maria Gabriella Khoury, analyst at credit-ratings agency Fitch. "They are doing that.. to make sure banks are holding more capital as we potentially head into a downturn," Colangelo said.
Persons: Banks, Adrienne Young, Maria Gabriella Khoury, Fitch, Robert Colangelo, Colangelo, Anthony Visano, Nivedita Balu, Rod Nickel Organizations: TORONTO, Franklin Templeton, " Bank of Nova, Scotiabank, BMO, Equity, DSB, Royal Bank of Canada, RBC, HSBC Canada, Kingwest, Thomson Locations: Franklin Templeton Canada, " Bank of Nova Scotia, U.S, Toronto
UNest is a startup that makes it easier for people to save up for major life expenses like college. Ksenia Yudina, founder & CEO, stepped down last month and warned the company was "insolvent." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . As Insider previously reported, Ksenia Yudina, founder & CEO, stepped down last month and warned the company was "insolvent." "The board, remaining management, and investors are working closely together to secure additional funding for the company," he said.
Persons: Ksenia Yudina, , Franklin Templeton, Star Baron Davis, Laura Dern, Michael Doniger, UNest, Ben Bergman, bbergman@insider.com Organizations: Service, Artemis Fund, Anthos, Northwestern Mutual, Star, Vanguard, Blackrock, Apex Clearing Locations: Anthos Capital, Apex
Goldstone was referring to a type of business-development company, an investment vehicle widely used in the private-credit market. The vehicle Condor allocated to is a slice of BlackRock's $81 billion private-credit business, which is part of the wider $317 billion alternative-assets platform. 'Size matters'In the summer, BlackRock executives teased out their focus on private credit and fixed income broadly during an investor-day presentation. BlackRock's string of private-credit developments adds up to a long-term bet that this dynamic will continue. "That, in essence, is the paradox of private credit."
Persons: David Goldstone, Goldstone, BDC, it's, hasn't, Rowe Price, Franklin Templeton, Blackstone, Axel Springer, Greg Greifeld, Greifeld, Tim Clarke, Rob Kapito, We've, Jim Keenan, BDCs, Keenan, Clarke, PitchBook, they're, Larry Fink, " Fink, Merrill Lynch, BlackRock, Jared Gross, J.P, Phil Tseng, BlackRock's, Gross, Morgan Organizations: Condor Capital Wealth Management, Condor, BlackRock, BlackRock doesn't, Federal Reserve, Fidelity, Apollo, KKR, Growth, BlackRock TCP Capital Corp, BlackRock Capital Investment Corp, Kreos, Barclays, Tennenbaum Capital Partners, Morgan, who's Locations: New Jersey, BlackRock, PitchBook, Banks, London
"This matter is very confidential and person who leaked the email can be subject to legal claims," Yudina wrote. UNest boasted 400,000 users that year and said it was on track to hit a million users in 2022. "I wasn't doing something that I perceived as illegal and unethical, therefore I stepped down from the position of CEO," Yudina wrote. "Tech industry is navigating a lot of headwinds and even strong startup founders get affected," Yudina wrote, before saying that people should be focused on supporting Israel. "As we navigate the hurdles of our daily lives, it's crucial to remember that there are people on another continent enduring unimaginable suffering and uncertainty," Yudina wrote in the message.
Persons: Ksenia Yudina, UNest, Yudina, I'm, Michael Doniger, Doniger, Franklin Templeton, Northwestern Mutual –, Star Baron Davis, Laura Dern, , SVB, Ben Bergman, bbergman@insider.com Organizations: Silicon Valley Bank, LinkedIn, Apex, Capital Group, Artemis, Anthos, Northwestern Mutual, Star, Business, Tech, Israel Locations: Silicon, Anthos Capital, UNest, Silicon Valley
Canadian dollar hits 7-month low as BoC stays sidelined
  + stars: | 2023-10-25 | by ( Fergal Smith | ) www.reuters.com   time to read: +2 min
A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto, January 23, 2015. The Canadian central bank held its key overnight rate at a 22-year high of 5.0%, as expected, for a second straight meeting. Wall Street fell after lackluster corporate results, while the U.S. dollar (.DXY) rallied against a basket of major currencies. Canadian government bond yields were higher across a steeper curve but the move for shorter-dated maturities was less than for the equivalent U.S. Treasury yields. The 2-year rose 2.9 basis points to 4.749%, while the 10-year was up 11.3 basis points at 4.131%.
Persons: Mark Blinch, Tom O'Gorman, we're, Michael Goshko, maturities, Fergal Smith, Sandra Maler Organizations: REUTERS, greenback, BoC, Canadian, U.S, Bank of, Franklin Templeton, Convera Canada, U.S ., Treasury, Thomson Locations: Toronto, TORONTO, Canadian, Franklin Templeton Canada, Wall
VIEW Canada's annual inflation cools in September
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +4 min
TORONTO, Oct 17 (Reuters) - Canada's annual inflation rate edged down to 3.8% in September on broad-based price reductions for some travel-related services, durable goods and groceries, Statistics Canada said on Tuesday. This beat analysts' expectations for annual inflation to remain at 4.0%. "It's pretty clear that (the central bank) won't be raising rates in my opinion in October. I think if we had gotten another inflation print like August in September - that was the big risk to have another hike. DEREK HOLT, VICE PRESIDENT OF CAPITAL MARKETS ECONOMICS AT SCOTIABANK"I think on a trend basis, the Bank of Canada is behind the inflation wage cycles.
Persons: CLAIRE FAN, MICHAEL GREENBERG, FRANKLIN TEMPLETON, JULES BOUDREAU, MACKENZIE, There's, They'll, DEREK HOLT, Divya Rajagopal, Steve Scherer, Fergal Smith, Denny Thomas Organizations: TORONTO, Statistics, ROYAL BANK, CANADA, Bank of Canada, Business Outlook Survey, ECONOMICS, SCOTIABANK, Thomson Locations: Statistics Canada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket reaction on Israel-Hamas conflict 'has been contained,' Franklin Templeton saysSalah Shamma, head of MENA equities at Franklin Templeton, says short-term market reaction on the Israel-Hamas war "has been contained" unless further operations increase in the wider region.
Persons: Franklin Templeton, Salah Shamma Organizations: Franklin Locations: Israel
The logo of Mexico's Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico February 28, 2019. Mexico could lure annual foreign direct investment flows of $55 billion to $60 billion if it takes better advantage of nearshoring, up from $36 billion in 2022, she said. That has dampened expectations Mexico could benefit from increased investment in semiconductors in North America. Mexico still faces competition to win investment from both North and Central America, plus Colombia, he said. "I don't think this measure is a game-changer to persuade those who have doubts," said Vejar.
Persons: Daniel Becerril, Gabriel Yorio, Andres Manuel Lopez Obrador, Gabriela Siller, Siller, Yorio, Lopez Obrador, Ramse Gutierrez, Franklin Templeton, Tesla, Carlos Vejar, Valentine Hilaire, Dave Graham, Anthony Esposito, Grant McCool, Sonali Paul Organizations: Mexico's Central Bank, Banco, REUTERS, MEXICO CITY, Banco Base, Central America, Thomson Locations: Banco de Mexico, Mexico City, Mexico, MEXICO, Asia, China, North America, Canada, United States, Franklin Templeton Mexico, Nuevo Leon, Mexican, North, Central, Colombia
The next 10 years will be unlike the last two decades for investors, according to investment advisors and wealth managers. Those conditions could create more volatility and lower returns for assets that have done well over the past decade, according to Monchau. ELTIFs allow individual investors to invest alongside institutions in assets like infrastructure, private equity and private credit. "The ability to generate income is going to be far and away the better place for the next decade for investment," he said. For younger investors more than 10 years from retirement, Cox recommends a 100% equity portfolio, maximising returns with low-cost index ETFs.
Persons: Charles, Henry Monchau, Monchau, There's, Goldman Sachs, Franklin Templeton, Jamie Cox, Cox, it's, maximising Organizations: CNBC Pro, Swiss, BlackRock, Harris Financial Group, Unilever, Nestle, Broadcom Locations: Swiss, Geneva, Richmond , Virginia
The jobless rate stayed at 5.5% for a third consecutive month, Statistics Canada said. Wage growth is also beating market expectations," said Michael Greenberg, a portfolio manager for Franklin Templeton Investment Solutions. "Despite the aggressive rate hikes by the Bank of Canada, clearly demand remains strong and companies continue to hire. Money markets increased bets for a rate increase later this month after the jobs figures were published. With September's robust gains, the economy is averaging 30,000 monthly employment growth this year, up from 25,000 a month earlier.
Persons: Carlos Osorio, Michael Greenberg, Greenberg, Derek Holt, Holt, haven't, they've, we're, Statscan, Ismail Shakil, Nivedita Balu, Steve Scherer, Fergal Smith, Dale Smith, Mark Porter Organizations: Queen, West, REUTERS, Rights OTTAWA, Statistics, Reuters, Franklin Templeton Investment Solutions, Bank of Canada, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, U.S, Ottawa
EBay also sells cars in the UK, though its own marketplace consists of consumers or dealers selling to consumers. The pandemic "acted as a massive accelerant" for Motorway because physical auctions were closed for months and dealers needed access to cars, Leathes said. In 2022, its auctions doubled to 1.7 billion pounds ($2.06 billion). That should double again this year, giving Motorway around a 5% share in a UK used-car market worth 80 billion pounds, Leathes said. Dealers can now use "wallets" for multiple transactions and Motorway now picks up around 30% of the cars it sells and delivers them to dealers.
Persons: Tom Leathes, Leathes, Nick Templeton, Templeton, Lewis Jent, Nick Carey, Nick Zieminski Organizations: eBay, Reuters, EBay, Index Ventures, Growth, BMW I Ventures, BMW, Dealers, Tesla, Thomson Locations: Britain, U.S, Leathes, CarShop
A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. It's a bit old hat, say a cohort of crypto investors who are betting on blockchain technology breathing new life into traditional assets. Others like Franklin Templeton, UBS Asset Management and ABN Amro (ABNd.AS) have launched tokenized versions of assets such as money market funds and green bonds. Indeed, the actual issuance and value of tokenized traditional assets remains small. Some market players now see significant advances.
Persons: Benoit Tessier, Franklin Templeton, Colin Butler, tokenization, hasn't, Morgan Krupetsky, Doug Schwenk, Lisa Mattackal, Medha Singh, Tom Wilson, Pravin Organizations: La Maison du, REUTERS, London Stock Exchange, Mirae, Securities, UBS Asset Management, ABN Amro, Polygon Labs, Reuters Graphics, Northern Trust, HSBC, Ava Labs, Digital Asset Research, Thomson, Reuters Locations: La, Paris, France, U.S, blockchain, Bengaluru
Veteran emerging markets investor Mark Mobius has named Alibaba and Tencent as key stocks in any portfolio investing in developing economies. Mobius said the Chinese technology giants "could be the foundation of any portfolio" despite recent volatility. Mobius is known for his long-term conviction picks of smaller companies, but stressed the resilience of the two Chinese tech titans. The fund manager said he likes the agility and profitability of smaller tech companies in the region but acknowledged geopolitical risks. So these companies are really very interesting companies," Mobius added.
Persons: Mark Mobius, Mobius, Alibaba, BABA, Franklin Templeton, they're, CNBC's, James Lee, Mizuho, It's Organizations: NYSE, Mobius Capital Partners, Hong, Investment, Mizuho Securities, Franklin, Taiwan Semi, Nvidia, AMD, Fund, Zilltek Technology Locations: Hong Kong, China, Taiwan, Beijing, TSMC, California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy looks due for soft landing, says Franklin Templeton CEO Jenny JohnsonJenny Johnson, Franklin Templeton CEO, joins ‘Closing Bell’ to discuss the possibility of a soft landing, investment opportunities in the market, and more.
Persons: Franklin Templeton, Jenny Johnson Jenny Johnson, Bell
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