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 […]
Rescheduled for November 29: Meeting with Interested Parties on 2021 Responsive Resolution
We have rescheduled this meeting for Monday, November 29, 2021 at 8pm Eastern / 7pm Central / 6pm Mountain / 5pm Pacific, and we are grateful to have found a time to make gathering more accessible for attendees. If you would like to be included on the Zoom invitation for the meeting, please contact Andrew […]
September Monthly Commentary
Global equities sold off in September as inflationary concerns pushed yields higher. The Federal Open Market Committee assumed a more hawkish tone in its meeting last month as the median policy rate forecast increased to three hikes in the Fed Funds rate by the end of 2023. Furthermore, Fed minutes indicated that tapering of Treasury […]
August Monthly Commentary
Risk assets pushed higher in August with encouraging economic data, still-accommodative monetary policy, and strong corporate earnings underpinning positive sentiment. Despite another month of robust returns, concerns loomed over the continued spread of the Delta variant, negatively impacting consumer sentiment and expectations. In the U.S., the S&P 500 Index posted a 3.0% return – marking […]
UUCEF Seeks BIPOC Consultant for Racial Justice Training and Portfolio Consulting
The Unitarian Universalist Common Endowment Fund managers seek proposals from BIPOC racial justice experts to assist the denomination in implementing its racial justice investing plan. Review and share the attached Request for Proposals for consultants to address two needs: a Racial Justice Investing Training to be held in November 2021, and direct portfolio consulting activities […]
July Monthly Commentary
The U.S. economy expanded at an annualized rate of 6.5% in the second quarter, falling short of the consensus estimate of 8.5%. Safe-haven assets ended July higher as concerns over the spread of the Delta variant and slower-than-expected growth weighed on investor sentiment. In equities, U.S. large-cap stocks outperformed with the S&P 500 Index gaining […]
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 […]