Commentaries

Timely market commentaries from leading investment firms

US Tax Reform: What Investors Need to Know

On December 2, Senate Republicans managed to obtain enough votes to pass sweeping US tax reform legislation, but with several changes compared with the original House of Representatives’ bill. At more than 470 pages, the “Tax Cuts and Jobs Act” is certainly not a light read.

How Should The Fed React To Tax Reform?

Test of Northern Trust

US Tax Reform: What Investors Need to Know

Test of Franklin Templeton

Schwab Market Perspective: The Big Picture Heading into 2018

Test of Schwab post

Geopolitical Uncertainty and the Global Economy

Ben Bernanke and our panel of world-renowned advisors examine the outlook for global economic growth amid geopolitical shifts.

Capitalizing Potential

A massive amount of stock market capitalization is tied up in companies based on both their potential market share and hypothetical future profits. The popular arguments in their favor come from looking at a company’s total addressable market (TAM). Sky high price-to-earnings ratios and massive capitalizations are common in companies with a large TAM as we finish up 2017.

The Global Economy in 2018

The global economy will confront serious challenges in the months and years ahead, and looming in the background is a mountain of debt that makes markets nervous – and that thus increases the system's vulnerability to destabilizing shocks. Yet the baseline scenario seems to be one of continuity, with no obvious convulsions on the horizon.

A Wall Street Walk Through Time

Robert Penn Warren (April 1905 – September 1989) was an American poet, novelist, and literary critic who once said, “History cannot give us a program for the future, but it can give us a fuller understanding of ourselves, and of our common humanity, so that we can better face the future.”

US Earnings Growth: Businesses that Matter

Many investors are scrutinizing US earnings growth, given that stock valuations are somewhat elevated. Companies that can maintain a successful moat around their business in a changing environment are best positioned to deliver growth and returns.

How Technology Has Set Industries on a Journey of Opportunity

Technology is transforming nearly every industry, from healthcare to retail to transportation. Franklin Templeton Investments recently hosted an event examining the race to develop and market autonomous vehicles entitled, “Along for the Ride: Evaluating the Impacts of Self-Driving Cars.”

Bitcoin and Metcalfe's Law

Thoughts on cryptocurrencies and Bitcoin. With the recent run up in the Bitcoin price, cryptocurrencies have been garnering much greater attention from the public at large. A rapid price rise like this presents a difficult situation for potential new investors into the space.

Consumer Fundamentals Are Strong

Now that Black Friday has come and gone and Cyber Monday is upon us, you're going to hear a blizzard of numbers and reports about the US consumer. So far, these numbers show blowout on-line sales and a mild decline in foot traffic at brick-and-mortar stores.

On My Radar: Trade Signals Remain Risk On

Happy Thanksgiving to you and your wonderful family. Today’s post is holiday short because by the time it hits your in box I’ll hopefully be home with IPA in hand celebrating a hard-fought Black Friday golf tournament victory. Daughter, Brianna; son, Matthew and good friend, Stevie Oh, rounds out our foursome. If you are familiar with golf, it’s a scramble format where each player tees off.

Taking Tally of the Global Rally

As we look ahead to 2018, it’s important to first recognize how significant 2017 has been for international markets. This is the eighth year of a global bull market, but prior to 2017, international markets had trailed the US for four consecutive years — and for six of the last seven years.

From Reflation to Inflation

The U.S. economy is shifting from reflation to inflation – and we have greater confidence in inflation returning to its medium-term trend and the Federal Reserve’s target. Better wage growth and potential fiscal stimulus should cement this transition.