January Monthly Commentary

Emerging market stocks took the lead in January, bolstered by a strong showing of currencies, including the Brazilian real, Mexican peso and the South African rand. The MSCI Emerging Market Index gained 5.5% on the month. At home, the S&P … Continued

December Monthly Commentary

US equities continued to march upward in December, shrugging off an appreciating dollar and a rate hike from the Federal Reserve. The S&P 500 gained 2.0% on the month, racking up returns of 12.0% in 2016; the Russell 2000 gained … Continued

November Monthly Commentary

Equities confounded expectations, touching record highs in November, even as an unexpected outcome to the US presidential election heightened global uncertainties. The S&P 500 Index returned 3.7% last month, surpassing the 2200 price level for the first time on November … Continued

October Monthly Commentary

US equities sold off in October ahead of the presidential elections on November 8. The S&P 500 lost 1.8% on the month and the Russell 2000 fell 4.8% amid lackluster earnings reports. Emerging market equities eked out modest gains generated … Continued

September Monthly Commentary

Equities posted modest gains in September amid oscillating investor sentiment fueled by uncertainty around potential interest rate hikes by the Federal Reserve. Earlier last month, Boston Fed President Eric Rosengren surprised markets with a more hawkish view regarding future interest … Continued

August Monthly Commentary

Coming on the heels of a rally in July, equities posted modest returns in August as volatility hovered around historic lows. In the US, small-cap stocks marginally outperformed large-cap equities, with the Russell 2000 returning 1.8% last month compared to … Continued

Nonprofit Organizations: Annual Audit Survival Guide

Many nonprofit organizations are recognized under section 501(c)(3) of the Internal Revenue Code (IRS) and therefore considered exempt from paying federal income taxes. Despite this reprieve, federal and most state governments levy several other “taxes” on nonprofit organizations resources in … Continued

July Monthly Commentary

After a rocky end to the second quarter, global equities bounced back in July and posted gains in most major markets. As Brexit shockwaves dissipated, equity volatility subsided and international equities surged amid a supportive central banking backdrop. The MSCI … Continued

Brexit…What Now?

In addition to the monthly commentary provided by our consultants, NEPC, here are some of their thoughts on Brexit. The outcome of the United Kingdom’s referendum to leave the European Union has stunned forecasters and market participants. Markets responded in dramatic … Continued

June Monthly Commentary

Global equity market returns in June were marked by anticipation of and then fallout from Britain’s referendum to exit the European Union. Leading up to the vote investors expressed cautious optimism as polls remained tight but markets were mostly pricing in … Continued