February Monthly Commentary
February marked a particularly volatile month for capital markets with fears intensifying over the new coronavirus (COVID-19) turning into a pandemic as the number of new cases appearing outside of China outpaced those within China. In response, the CBOE Volatility Index shot up to 40.11, a new high since 2015. Global equities were the hardest […]
January Monthly Commentary
After turning in a stellar performance in 2019, equities initially started the new decade on a high note, bolstered by a trade pact between the United States and China. However, optimism quickly gave way to fear amid the outbreak of the coronavirus that originated in Wuhan, China, resulting in a lackluster month for global stocks. […]
December Monthly Commentary
Global equities went out with a bang, building on their already robust returns for the year, with the MSCI ACWI Index up 26.5% in 2019. US stocks led the charge with the S&P 500 Index returning 31.5% for the 12 months ended December 31. International and emerging markets also posted solid results, with the MSCI […]
November Monthly Commentary
Following a relatively quiet month, developed equities ended higher as improving economic data assuaged near-term fears of a slowdown. US markets led the way with the S&P 500 Index increasing 3.6% during the month, adding to year-to-date gains of 27.6% – putting it on track for the best calendar year return since 2013. Internationally, the […]
October Monthly Commentary
Investors embraced risk assets in October amid more accommodative monetary policies from the Federal Reserve and the European Central Bank, and renewed optimism around the outcomes of Brexit, and the trade war between the United States and China. In equities, international and emerging markets led the way with the MSCI EAFE Index and MSCI Emerging […]
Investors Say Companies Must Align Lobbying With Paris Agreement
The UUA joined 200 institutional investors with a combined $6.5 trillion in assets under management in calling on 47 of the largest corporations in the US to align their climate lobbying with the goals of the Paris Agreement. The announcement from Ceres can be found here. The investors are all members of the Climate Action 100+, […]
September Monthly Commentary
Risk assets were in the black in September following a challenging summer marked by an escalating trade war between the United States and China, and sluggish economic growth. Global equities rallied as central banks in the US and Europe eased monetary policy to offset concerns around an economic slowdown. The MSCI EAFE Index led the […]
August Monthly Commentary
Equity markets lagged in August as trade tensions between the US and China resurfaced and investors fretted over slowing global economic growth. The S&P 500 Index declined 1.6% last month as the US manufacturing sector grew at its slowest pace since 2009, according to Markit’s Manufacturing Purchasing Managers’ Index. The MSCI EAFE Index lost 2.6%, […]
July Monthly Commentary
Most asset classes recorded modest returns in July on the heels of stellar performance in the first half of the year. Domestic equities outperformed with gains of 1.4%—bringing year-to-date returns to 20.2%—as the S&P 500 Index hit a record high fueled by expectations of lower rates in the United States. Internationally, a strong dollar detracted […]
June Monthly Commentary
Reversing their sharp declines from a month earlier, equities posted strong gains in June on the back of a more accommodative pivot from global central banks responding to muted inflation, ongoing trade concerns and weakening economic data. The S&P 500 Index hit a record high, up 7.0% for the month and 4.3% for the quarter. […]