It’s been said that any recession taking place in 2023 may be the most expected and anticipated recession in history. The Federal Reserve, forced to hike interest rates at the fastest pace on record in 2022, is setting out to slow down and cool off the economy by design, in order to fight inflation. It’s … Continued
Markets continued their rally from recent lows through October and November but have struggled as we end the year so far through December. Many of the key drivers remain the same, with decades-high inflation forcing the Federal Reserve and central banks around the world to raise interest rates and tighten monetary conditions at a historic … Continued
The S&P 500 saw a healthy rally in October, and at the time of this writing, has continued a strong rebound off of September lows. A main catalyst for this has been a surprise slower-than-expected inflation report for October that drove the S&P 500 up +5% in a single day after it was released. Inflation, … Continued
The S&P 500 ended September at its lowest level for the year, as a miserable year for investors continued with the stock market firmly in bear market territory and the bond market also seeing losses in the mid-teens. Following something of a relief rally through the summer, as investors grappled with whether inflation had peaked … Continued
The Presbyterian Church (U.S.A.) has a long history of responsible investing practices, or values-based investing. This dates back to a policy adopted by the General Assembly in 1971. The policy statement included a discussion about investments being “an instrument of mission and includes theological, social and economic considerations.” The basis for this belief is that … Continued
It’s been a strong summer for the markets, with the S&P 500 and especially the NASDAQ stock index rallying through July on news that inflationary pressures throughout the economy may be easing. Even the bond market, which experienced one of its worst first half returns on record, saw modest price gains, as expectations for future … Continued
During the 225th General Assembly (GA) of the Presbyterian Church (U.S.A.), there was significant debate on climate change. While we all agree that the environment is a serious issue that requires meaningful action, the debate specifically centered on what actions the church should take regarding fossil fuel divestment. One of the proposed responses was to divest church investments … Continued
The S&P 500 dropped -20.6% in the first six months of 2022, the worst first half for the index since 1970. Bonds, as measured by the Bloomberg U.S. Aggregate Bond Index, fell -10.7% in the same period, its worst first half on record going back to 1975. The market weakness in the first half of … Continued
The S&P 500 touched bear market territory during a volatile May, down over -20% from its high intra-day on May 20th. Stock investing can be volatile, but nearly a century of bull and bear markets show the good times have outshined the bad times. From 1926 through 2021, the S&P experienced 17 bear markets, ranging … Continued
By now, most Americans are aware that high inflation has permeated the global economy, resulting in higher prices for everything from food to gasoline, furniture, cars, and energy. A delicately balanced global supply chain, made leaner and leaner over decades to improve efficiencies, proved incapable of weathering a shock like a global pandemic without severe … Continued