our guest is a senior vice president at franklin templeton solutions. stick with us. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. every day, millions of things need to get to where they're going. and at chevron, we're working to help reduce the carbon intensity of the fuels that keep things moving. today, we're producing renewable diesel that can be used in existing diesel tanks. and we're committed to increasing our renewable fuels production. because as we work toward a lower carbon future, it's only human to keep moving forward. >> it looks so much in the endless earnings estimates like the fourth quarter was the recession and here we are sitting

franklin templeton's katrina dudley spoke to me earlier. katrina: these investors have not had to focus on investments for a long time. they have been riding the lower inflation and the rising stock prices. tech investors are having to do the work that we have been doing as active stock pickers our entire career. that is why we think there is a lot of opportunity but you really need to be stock pickers. that is the key message. you cannot take this blanket paintbrush and go, i am going to go all in tech. amber: for more on the markets let's bring in jack caffrey, portfolio manager at jp morgan. i assume you always do the work but is 2023 really going to drive at home? jack: i think you are going to see much more of a market of stocks rather than the stock market. whether it is the dispersion with valuations, which are getting to be above average. whether it is what winds up driving the company's top lines. i think the challenge we have over the next two or three weeks is so many companies are in their quiet period. they might be more reacti

still to come, franklin templeton says emerging market economies have not yet experienced a sharp slowdowntate reasonably resilient. more on their market strategy at next. this is bloomberg. ♪ at booking.com, finding perfect isn't rocket science. kitchen? sorted. hot tub, why not? and of course, puppy-friendly. we don't like to say perfect, but it's pretty perfect. booking.com, booking.yeah. haslinda: indian stocks trading in four minutes, and it is pretty much risk on, nifty futures pointing up to a higher opening up .2 of 1%. let's look ahead to key stories investors are watching india. india's federal government approved an incentive to produce green hydrogen. five firms are leading the push. we will be watching stocks of india carmakers. the federation of india carmakers is said to release data. it announced the launch of a public issue of its nonconvertible debentures. it will release bonds that will mature in 27 and 39 months. rishaad: more detail into what is happening in indian markets, anand is a ceo for indian equities at franklin templeton. one of the few markets that that manag

coming up franklin templeton fixed income cio. this is bloomberg. you up today with news from around the world. in turkey inflation decelerated at its steepest pace in more than a quarter-century century. consumer prices rose in december down from 84% the previous month. we hear from turkeys treasury and finance minister. >> and 2021 we witnessed an attack on the foreign exchange rate that lasted until the 20th of december. it was an era and especially the introduction of an fx plan. prices began to normalize and demand went back to a more reasonable level. >> the slowdown may be at risk from a public spending splurge. german -- germany open to seizing russian assets as long as he -- legal issues can be resolved. not everyone in the government is enthusiastic. the finance ministers concerned confiscating assets could create a dangerous precedent. more troubles for the u.k. prime minister. rail workers will walk off the job spark -- striking for five days. nurses and ambulance drivers plan to strike later in the month. unions are demanding bigger hik

senior portfolio manager at franklin templeton investment solutions. great to see you, mike why do you think we're heading for a harder fall here w >> well, not that it's guaranteed don't get overly excited great to see green on the screen after such a rough year. last year one of the top five worst markets in almost 100 years, but despite the good cpi report today we have to remember, there's still a long way to go. the wages and services component, the cpi, stickiest and will require most amount of work the fed will continue to raise rates and they know the lessons of the 1970s they're going to err on the side of raising too much rather than declare victory too early. if the fed is successful winning the battle with inflation what are we then left with? the economic slowdown and recession. how bad is that? what is the impact on earnings and that could be the next major head wind for the market it's important not to declare victory too early right now. >> one of the things that's interesting in my notes from your earlier conversations from one of our

coming up, franklin templeton fixed income cio joining bloomberg tv 3:00 p.m. new york time. bloomberg. ♪ >> keeping you up today with news from around the world. disgraced crypto founder sam bankman-fried plans to plead not guilty to fraud charges today. he said to appear in federal court in manhattan after being charged with organizing a years long scam at ftx. two of his closest associates pled guilty to fraud and are cooperating with the government. germany open to seizing assets to help ukraine rebuild from the war. that as long as legal issues can be resolved and allies are on board. olaf scholz's government is enthusiastic the finance minister is concerned confiscating russian central bank assets could create a dangerous precedent. china vowing to hit back at countries that placed covid travel restrictions on its travelers. a spokesman says some lack scientific bases and were imposed for what she calls political goals. u.s., japan and other countries requiring them to show a negative test before they enter. global news 24 hours a day on air and on bloomberg quicktake,