Templeton Global Macro Insights

Templeton Global Macro is best known for its unconstrained approach to global fixed income investing, looking beyond traditional fixed income benchmarks for the most compelling opportunities. Led by macroeconomic and in-depth country research, the team makes active allocations across yield curve, currencies and credit to diversify and take advantage of different economic cycles around the world. The team’s investment insights come from their rigorous academic analysis and on-the-ground-research. Here, the team shares their views on various global economic topics. Click here for the team’s current and past ESG Papers. Click here for the team’s current and past Global Macro Shifts papers.

July saw the renewed Middle East conflict weigh on financial markets, lift oil prices and push sovereign yields higher, according to the Templeton Global Macro team. We continue to favor select developed and emerging markets with positive fundamentals and particularly those that can leverage changes in the global supply chain.

Emerging markets have grown more resilient, according to the Templeton Global Macro team, and the Iran-driven oil shock is a fresh test. Impacts will likely diverge between oil importers and exporters and vary widely within each group.

In their latest publication, Templeton Global Macro highlights recent changes for developed and emerging markets in its ESG Index, including an increasing number of countries with positive momentum.

Looking ahead to the first quarter of 2026, Templeton Global Macro CIO Michael Hasenstab believes there are several sources of potential economic policy concern in major economies. Find out more.