June Monthly Commentary
Global markets seesawed in June as investors turned their attention to Greece’s negotiations with its creditors and deliberated the likelihood of yet another bailout. In the early part of the month, developed market equities responded positively as Greece and its creditors appeared to be making progress. But these gains were subsequently reversed when Greek Prime […]
May Monthly Commentary
US equities bounced around in May with trading marked by low volume and changing sentiment as investors grappled with the potential impact of mixed economic data on the Federal Reserve’s timing of a rate increase. Smaller-cap issues fared better than their large-cap counterparts due, in part, to a sustained strong dollar prompting trade headwinds for […]
April Monthly Commentary
International equities surged in April, with the MSCI EAFE Index gaining 4.1%, as monetary easing policies in Europe and Japan emboldened investors. Emerging market stocks also rallied as investors embraced the likelihood that the Fed would delay raising rates in light of softening economic data at home. The MSCI EM Index returned 7.7% last month, […]
March Monthly Commentary
Stocks reversed course in March amid subdued economic data, expectations of lower US earnings growth, and ongoing geopolitical tensions. The S&P 500 finished the month down 1.6% amid weaker than expected GDP growth of 2.2% in the fourth quarter and a declining earnings forecast fueled by low oil prices and a stronger dollar which affects […]
Newly Released Study on likely Stranded Coal Burning Assets
In the investment and environmental communities, there has been a lot of discussion about stranded energy assets in the last few years. A recent article in the Guardian state that US and Chinese companies top the list of most polluting coal plants. This article from the Smith School of Enterprise and the Environment, and the research […]
January Monthly Commentary
Global equities were a mixed bag in January as investors responded to diverging monetary policies and the resulting potential for an uptick in volatility. The S&P 500 fell 3.0% on the month while emerging markets were modestly positive as the MSCI EM Index returned 0.6% International developed equities were buoyed by the European Central Bank’s […]
December Monthly Commentary
US equities scaled new highs in December amid optimism around the economy. To this end, the S&P 500 returned 13.7% for the year and the Russell 2000 gained 4.9%. These advances came amid a slump in the rest of the world with the MSCI EAFE Index falling 3.5% last month. The drop was fueled by […]
November Monthly Commentary
After a spike in volatility in October and a subsequent recovery, it was back to more of the same for US markets in November as many domestic equity indices scaled new highs. Conversely, 10-year government bond yields in many countries—Germany, France, Italy, Spain, Portugal, and Japan— dropped to all-time lows late in the month as […]
October Monthly Commentary
Markets experienced a turbulent ride in October but wound up in a familiar place by month end with domestic equities positive and Treasury yields lower. A wave of volatility spurred by global growth concerns permeated through markets – first felt in currencies and then resulting in a sharp equity selloff early in the month. US […]
February Monthly Commentary
Financial markets reversed course in February as global equities rallied. The MSCI EAFE Index returned 6.0% amid investor anticipation of the European Central Bank’s quantitative easing program, which kicks off this month. The gains were also driven by strong returns from Japan, where multinational companies reaped the benefits of a weakened yen and recent inflation […]