News

“As goes January, so goes the year” is a well-known Wall Street maxim that, like most Wall Street maxims, is sometimes true and sometimes, well, not true. As of today, we are very much hoping it does turn out to be true this year. January has been a very good month so far, with a significant bounce back from the terrible results of 2022. It would be nice to see that bounce continue. The good news is that—while still expecting volatility—we can expect the market to continue doing well this year. Let’s walk through the reasons, starting with history.

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Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead. 

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Following up on my colleague Sarah Hargreaves’s post on ESG investing, I thought I would comment on some discussions and questions I have had on the topic. For what is at bottom a simple attempt to make better investment decisions, it has become a surprisingly controversial topic. So, let’s dig in a bit into what is actually happening when we talk about ESG investing. 

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After two years of explosive growth, investments incorporating environmental, social, and governance (ESG) criteria endured a challenging market environment throughout 2022. The combination of elevated inflationary pressures, geopolitical tensions, and an energy crisis following Russia’s invasion of Ukraine precipitated a challenging backdrop for sustainable investments. Furthermore, skepticism in the U.S. around the efficacy of ESG—due to greenwashing and heightened politicization—slowed the pace of progress compared to that experienced in 2020 and 2021. But as investors turn the page on a volatile 2022, what does the path forward for ESG investments look like?

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Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead. 

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I have gotten more than the usual number of worried emails, texts, and calls recently—not only from Commonwealth advisors, driven by the concerns of their clients, but from my clients as well. While I understand most of what’s behind those worries—the debt ceiling, at the moment—what is interesting is that last year, during the bear market, I heard much less in the way of worry. It’s not that people weren’t concerned, but there wasn’t the level of immediate fear that I am hearing right now.

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