Global markets have staged a recovery from last year's doldrums, but investment managers and
That's the takeaway from a virtual panel on Wednesday held by giant asset manager Franklin Templeton, where in-house experts discussed the state of global markets so far in 2023 and reviewed major risks and opportunities for investors going into the second half of the year.
"We've had this recovery in global growth at a time when many investors were positioned for recession," said Paul Mielczarski, head of global macro strategy at Brandywine Global Investment Management, a specialist investment unit of Franklin Templeton. "Risky assets have actually delivered pretty solid returns in the first half of the year. So if you look at global stocks, they're up 10 to 15%."
Mielczarski said the removal of COVID-19 restrictions in China, the "reversal of the energy shock in Europe," and the start of a "decline in headline inflation" had contributed.
The other panelists included Sonal Desai, portfolio manager and chief investment officer at Franklin Templeton Fixed Income, and Rich Byrne, president of Benefit Street Partners, which is a part of Franklin Templeton. Katie Klingensmith, senior vice president and investment specialist at Brandywine, moderated.
Franklin Templeton, which is known for its wide array of mutual fund offerings,