Templeton全球宏观团队以其不受约束的全球固定收益投资方法而闻名，在传统固定收益基准之外寻找最具吸引力的机会。该团队以宏观经济和深入的国家研究为主导，在收益率曲线、货币和信用方面进行主动配置，以分散投资并利用全球不同的经济周期。团队的投资见解源于其严谨的学术分析和实地研究。在此，团队分享他们对各种全球经济话题的看法。
点击此处查看团队当前及过往的ESG报告。点击此处查看团队当前及过往的《全球宏观转变》报告。
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Templeton全球宏观洞察
全球宏观洞察：2026年7月
根据Templeton全球宏观团队的观点，7月份中东冲突再度升级，给金融市场带来压力，推高了油价，并抬升了主权债券收益率。我们继续看好具有积极基本面、且尤其能够利用全球供应链变化的部分发达市场和新兴市场。
新兴市场：面对最新油价冲击的韧性与分化
据Templeton全球宏观团队称，新兴市场已变得更加具有韧性，而伊朗引发的油价冲击是一次新的考验。影响可能在石油进口国和出口国之间出现分化，且各群体内部也存在很大差异。
我们的ESG评分更新：2026年4月
在其最新出版物中，Templeton全球宏观团队重点介绍了其ESG指数中发达市场和新兴市场的最新变化，包括具有积极势头的国家数量不断增加。
季度经济展望：2026年第一季度
展望2026,年第一季度，Templeton全球宏观首席投资官Michael Hasenstab认为，主要经济体中存在几个潜在的经济政策担忧来源。了解更多信息。
完整英文原文
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.
Global Macro Insights: July 2026
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: Resilience and divergence in the face of the latest oil shock
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.
An update on our ESG scores: April 2026
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.
Quarterly Economic Outlook: First quarter 2026
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.
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关键论点
- 7月中东冲突再起推高油价并抬升主权债券收益率。
- 团队看好具有积极基本面并能利用全球供应链变化的部分发达和新兴市场。
- 新兴市场韧性增强，但伊朗引发的油价冲击对进口国和出口国的影响将出现分化。
- 预计2026年第一季度主要经济体将面临多项潜在经济政策担忧。
风险
- 中东冲突升级可能进一步推高油价并拖累风险资产。
- 油价冲击的分化影响可能给新兴市场带来不确定性。
- 主要经济体的潜在政策失误可能影响全球增长。