Progress Update on 2021 Responsive Resolution
This article provides an update of the various actions taken by UUA staff and the Association’s Investment and Socially Responsible Investing (SRI) Committees since receiving the 2021 Responsive Resolution from the General Assembly, Creating a More Just Future Through Divesting from Pipelines and Investing in Young People. This resolution had two main asks: That UUCEF […]
Big Oil Investors Put to the Test at Annual Shareholder Meetings
Last week was the culmination of major oil and gas companies’ annual general meetings, also known as annual shareholder meetings. As in previous years, climate-related shareholder proposals were on the agenda for Shell, ExxonMobil and Chevron, and climate advocates urged major investors, including BlackRock, to vote for climate action. Two key things have changed since last year: 1) Evidence has piled up that sharp […]
April Monthly Commentary
Tighter monetary policy, geopolitical tensions and lockdowns in China dragged down equities in April. The backup in global bond yields remained a headwind for stocks, with growth equities generally underperforming value. In the U.S., the S&P 500 plummeted 8.7%—its largest monthly decline since March 2020. Outside the U.S., markets outperformed on a relative basis despite […]
March Monthly Commentary
Ongoing geopolitical tensions and tighter monetary policy amid persisting inflationary pressures weighed on capital markets in March. The FOMC hiked rates for the first time since 2018, increasing interest rates by 25 basis points to a range of 0.25%-0.50%. Further, policymakers revised upwards their forecast for interest rates and inflation, and signaled for more aggressive […]
February Monthly Commentary
Risk-off sentiment washed over markets in February as the Ukraine-Russia conflict fueled concerns around the potential impact on the global economy, the geopolitical landscape, and capital markets. While our expertise is focused on investment portfolios, we are mindful of the suffering and our thoughts and compassion are with those impacted. Though the conflict was the […]
January Monthly Commentary
Global equities sold-off in January as the Federal Reserve assumed a more hawkish stance as persistent inflation pressures pushed yields higher. Headline CPI increased 7% in 2021, marking the largest calendar year increase since 1981. While the Fed Open Market Committee met last month and announced it was holding rates steady at 0%-0.25%, Fed Chair […]
December Monthly Commentary
Global equities ended 2021 with a bang as strong earnings growth and positive risk asset sentiment bolstered returns in December. In the U.S., the S&P 500 Index gained 4.5%, pushing year-to-date returns to a whopping 28.7%. Non-U.S. equities were also in the black with the MSCI EAFE and MSCI Emerging Markets indexes up 5.1% and […]
November Monthly Commentary
Risk assets sold off in November as investor sentiment weakened amid concerns around ongoing inflation and the pandemic. In the U.S., October Consumer Price Index data revealed higher-than-expected prices with headline CPI increasing 6.2% year-over-year. In an unexpected shift, the Federal Reserve Chair Jerome Powell assumed a more hawkish tone and signaled that tapering of […]
October Monthly Commentary
U.S. equities moved higher in October as strong corporate earnings and a relatively positive macroeconomic backdrop pushed the S&P 500 Index to a record high, with the index gaining 7% last month. During this period, non-U.S. equities were also in the black as a rebound in Chinese assets and dollar weakness supported returns, with the […]
May Monthly Commentary
Despite a difficult start to the year, global equities modestly rebounded in May. The S&P 500 Index eked out a gain of 0.2% for the month, even as mega-cap technology names faltered with rising interest rates and earnings pressure. Growth equity underperformed value with the Russell 1000 Value Index gaining 1.9%, while the Russell 1000 […]