May Monthly Commentary
Global equities were mixed in May, with U.S. markets outperforming despite continued concerns around economic growth and the protracted negotiations on the debt ceiling. The S&P 500 Index ended the month up 0.4%, pushing year-to-date returns to 9.6%. These gains come despite weakness in index breadth: a concentration of mega-capitalization technology companies have accounted for […]
UUCEF Completes Divestment from Carbon Underground 200 Companies
At its meeting on March 24, 2023, the UUA Investment Committee unanimously voted to end future shareholder engagement with all Carbon Underground 200 (CU200) companies and to complete our divestment of directly-held CU200 companies subject to the completion of current year engagements. The CU200 list names the 200 largest publicly traded oil, gas, and coal […]
An A to Z of Fossil Fuel Industry Deception
Kathy Mulvey, Chair of the UUA Investment Committee, has invited us to share this blog post she recently wrote for the Union of Concerned Scientists (UCS). Kathy, who serves as the Accountability Campaign Manager for UCS’s Climate and Energy Program, covers the A-to-Z’s of the ways fossil fuel companies have obstructed meaningful advancement on climate […]
April Monthly Commentary
Risk assets traded higher in April as positive economic data and better-than-expected earnings supported market sentiment. In the U.S., the economy expanded at an annualized rate of 2.2% in the first quarter as an increase in consumption and government spending offset a decline in inventories. Inflation levels moderated, with headline PCE increasing 0.1% over March, […]
UU Common Endowment Fund: Save the Date May 8th and 9th
Hello UUCEF Investors, We have scheduled two meetings (May 8th at 12pm Eastern and May 9th 4pm Eastern) to discuss the upcoming UUA General Assembly Business Resolution, Complete Divestment from the Fossil Fuel Industry and Subsequent Reparations, with you, our investors. The UUA Board of Trustees and Investment Committee do not support the resolution as […]
March Monthly Commentary
The Federal Reserve stepped in last month, infusing liquidity into the banking sector, in a bid to quell the rising turmoil precipitated by higher interest rates and the collapse of a handful of banks. Equities got a boost as the central bank’s actions eased the concerns of investors with markets pricing in lower interest rates […]
February Monthly Commentary
Risk-off sentiment washed over markets in February as fresh economic data paved the way for continued rate hikes and a tighter monetary policy backdrop. In the U.S., inflation data softened at a slower rate than anticipated, while labor market numbers remained robust. In response, the Federal Reserve hiked interest rates by 25 basis points to […]
January Monthly Commentary
Global assets started 2023 on solid footing amid signs of waning inflation and robust growth. In the U.S., headline CPI marked its first monthly decline since May 2020, falling 0.1% in December, after rising 6.5% in 2022. Labor markets remained resilient with the unemployment rate declining to 3.5% in December, even as labor force participation […]
December Monthly Commentary
Equities sold off in December amid recessionary fears fueled by the Federal Reserve’s tighter monetary policy. In the U.S., the S&P 500 Index fell 5.8%, bringing losses for 2022 to 18.1%, the worst calendar year return since the Global Financial Crisis in 2008. Value stocks outperformed with the Russell 1000 Value Index down 4%, finishing […]
UUA Board Statement, Post-General Assembly 2023, Regarding Divestment Reparations
June 30, 2023 Last week’s General Assembly was a meaningful yet challenging time for many Unitarian Universalists, including those of us on the Board of Trustees. While we were able to advance some significant priorities—including continuing the conversation about the proposed revisions to the Article II bylaws—we also heard some painful accusations regarding the Unitarian […]