Report
Greggory Warren, CFA
EUR 147.86 For Business Accounts Only

What Is the 10-Year Rate Telling Us?

Just a few weeks after the 2016 U.S. presidential election, the yield on U.S. 10-year Treasuries is up roughly 50 basis points as investors reassess their outlook for the country’s economic prospects. Data from the CME Group indicates a 93% probability that the Federal Reserve will raise its Fed Funds target by 25 basis points at the Dec. 14 meeting. Bank stocks have responded in dramatic fashion, in some cases exceeding our fair value estimates.
We note that relatively rate-insensitive names, s...
Underlying
Franklin Resources Inc.

Franklin Resources is a holding company that, together with its subsidiaries, operates as Franklin Templeton?. The company is an investment management organization that provides investment management and related services to retail, institutional and investors in jurisdictions worldwide through its investment products. The company's investment products include its sponsored funds, as well as institutional and separate accounts, and sub-advised products. The company's funds include registered and unregistered funds. The company's services include fund administration, sales and distribution, and shareholder servicing. The company also provides sub-advisory services to certain investment products sponsored by other companies.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Greggory Warren, CFA

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