Our Thinking

Sage Insights: Interest Rate Hikes, Inflation, War, and Our Investment Perspective

Unsurprisingly, March was a choppy month for the financial markets. Stocks rebounded from the sharp sell-off we noted in February that carried over into the first part of the month, while commodity prices jumped around unpredictably, and bond prices declined due to precipitously higher interest rates. Looking forward, we see a reason to be optimistic. | Read More +

Insights: Russian Invasion of Ukraine, Navigating Volatility, and An Upcoming Change In Federal Reserve Policy

February was an uneasy month for financial markets, primarily because Russia invaded Ukraine. But even though equity markets have fluctuated sharply in 2022, we remain encouraged by the strong economic backdrop supporting the expected increase of interest rates in March. As a result, we continue to think companies should have a positive environment for continued | Read More +

Insights: Federal Reserve Tightening, Corporate Earnings, and Russian-Ukraine Tensions

January was a difficult month for financial markets, caused primarily by expectations of tighter monetary policy by the Federal Reserve and a soft start to corporate earnings season. The Russia-Ukraine tensions provided an additional source of uncertainty for markets. While we observed some recent downside in equity markets, we remain encouraged by the strong economic | Read More +

Sage 2022 Investment Outlook

Introduction: 2021, A Year of Strong Performance Through Uncertainty Stock markets generated strong returns in 2021, while the performance of bonds was mediocre. Following the 2020 U.S. elections, many investors expected higher taxes and a difficult environment for corporations. Instead, corporations registered staggering profit growth, navigating through choppy markets fraught with pandemic-related economic issues (e.g., | Read More +

Insights: Market Volatility in November, Omicron, and Tapering

In November, stocks moved lower, and bonds provided a positive return as market participants responded to the uncertainty around the Omicron variant of COVID and the Federal Reserve’s statements that it may speed up tapering in response to inflation and strong employment. The MSCI ACWI Index, which represents global equities (i.e., both U.S. and international | Read More +

Insights: A Strong Start to the Fourth Quarter and A Close Look at Inflation

In October, stocks started the fourth quarter on a strong note, while bonds retreated modestly as market participants positioned portfolios for the final months of 2021. The MSCI ACWI Index, which represents global equities (i.e., both U.S. and international stocks), advanced by 5.10% in October, the U.S. large-cap Russell 1000 Index rose 6.94%, the U.S. | Read More +

Insights: Market Commentary for September 2021 and a Look Ahead

The month of September saw stocks and bonds move lower as market participants responded to the Federal Reserve’s decision to likely begin tapering monthly bond purchases toward the end of Q4, the ongoing Evergrande situation in China, and upcoming policy decisions out of Washington, D.C. The MSCI ACWI Index, which represents global equities (i.e., both | Read More +