Community Investment Matching Program to Wind Up
Under the UUA’s community investment matching program, the UUA matched a congregation’s investment in a Community Development Financial Institution (CDFI) with an investment of its own in the same amount (maximum $10,000), term (maximum 3 years), and interest rate as the note signed by the congregation. Recently, the UUA Investment Committee has decided that going […]
February Monthly Commentary
A slew of stronger-than-expected economic and corporate earnings data bolstered global stocks in February. The S&P 500 Index hit multiple milestones during the month: it surpassed 5000 and Nvidia set a record for the largest single-day market capitalization gain of $277 billion; the S&P 500 gained 5.3% last month, pushing year-to-date returns to 7.1%. Outside […]
January Monthly Commentary
Asset returns were mixed in January as better-than-expected economic returns and a hawkish Federal Reserve weighed on markets. The U.S. economy expanded at an annualized rate of 3.3% in the fourth quarter fueled by strong consumer spending. Spending data released last month still point to a resilient consumer with personal consumption expenditures beating expectations and […]
December Monthly Commentary
On the heels of a Fed pivot, bonds and equities rallied in December to finish the year strong. Fed Chairman Jerome Powell appeared dovish during the Federal Reserve meeting last month, which was all markets needed to fuel a Santa Claus rally late in the year. The interest-rate moves in December were unprecedented with yields […]
November Monthly Commentary
Risk-on sentiment washed over markets in November as softer-than-expected U.S. inflation data strengthened investors’ belief that the Federal Funds rate had peaked, emboldening them to price in more aggressive interest rate cuts in 2024. Fed Funds futures now reflect four rate cuts next year of 25-basis points each, even as the Federal Reserve insists policy […]
October Monthly Commentary
Stocks and bonds sold off in October as strong economic data underscored expectations that interest rates will remain higher for longer. The U.S. economy expanded at a faster-than-expected pace, rising at an annualized rate of 4.9% in the third quarter, bolstered by robust consumer spending and higher inventory levels. In addition, economic data reported over […]
UUA/UUCEF Values Based Investing Update
September, 2023 This is a quarterly update on environmental, social and governance (ESG) actions of the UU Common Endowment of the Unitarian Universalist Association. The UUCEF currently holds about $250 million in investments on behalf of hundreds of UU organizations, and is overseen by the UUA Investment Committee working with UUA staff and private investment […]
September Monthly Commentary
There was nowhere to hide in September as bonds and equities sold off amid market expectations of interest rates staying higher for longer; the optimism that rates will revert to under 3% sooner rather than later seemingly dissipated last month. So far, the Federal Reserve has increased rates by over 500 basis points, and appears […]
August Monthly Commentary
Global equities and bonds ended August in the red as concerns around economic growth in China and upward pressure on interest rates weighed on returns. The month started off on uncertain footing as Fitch Ratings downgraded the sovereign credit rating of the U.S. to AA+ from AAA, and the Bank of Japan unexpectedly adjusted its […]
March Monthly Commentary
All asset classes were in the black in March as markets saw no signs of an economic slowdown in the U.S. in the first quarter, while the Federal Reserve continues its efforts to steer the economy to a safe landing. Markets have priced in a safe landing—a stable path back to inflation of 2% with […]