CHGX News and Press, Change Finance U.S. Large Cap Fossil Fuel Free From 08/05/21

The ISM’s Non-manufacturing PMI rose sharply in July 2021, four big points, up to 64.1 and handily beating estimates. This was in opposition to the slowdown trend which Manufacturing ISM displayed only too well two days ago. Though, the ADP release corroborates the sense of another...

GMI’s 10-year Sharpe ratio (SR) edged up for a fifth straight month to 0.86, the highest since January 2020, based on a rolling ten-year window via monthly data. Profiling GMI through a drawdown lens also reflects an extended stretch of low risk. GMI is useful as a baseline...

The projected risk premium for the Global Market held steady in July at an annualized 6.0%, unchanged from the previous month. Despite the recent bounce, GMI’s trailing 10-year performance remains well below the previous 8%-plus peak. No one really knows what risk premia wi...

A marked fall in business optimism in July hints that companies could become reticent to expand capacity while the pandemic continues to hit supply chains. Output growth continued to run behind the growth of new orders for a fifth straight month, meaning backlogs of work rose sharply ...

While it did not get a lot of attention, Congress failed to increase the debt ceiling this past weekend. We have been told many, many times that, if they failed to increase the debt ceiling in the past, it would have serious negative repercussions for financial markets. It seems w...

The Commerce Department announced that sales of new homes declined 6.6% in June to an annual pace of 676,000, which is a post-pandemic monthly low. May’s new home sales were revised lower to an annual pace of 724,000, down from 769,000 previously reported. Durable goods orders ...

We see China’s regulatory crackdown that recently rattled markets likely to moderate, alongside a dovish shift in macro policy, for the near term. The Federal Reserve noted further progress in the economy as expected; we see a tapering of asset purchases unlikely to start befor...

Most of the major asset classes continued to rise in July, led by US real estate investment trusts (REITs). US equities continued trending higher. The bull run also persisted for the Global Market Index (GMI) in July. For further details see: Major Asset Classes: July 20...

There were stellar earnings reports last week, but the market was expecting those and sent shares of many of those companies lower. Federal Reserve Chair Powell spoke mid-week, and the market passed on its usual fireworks in response. While there has not been a 5% decline in marke...

Stocks are expensive, and people aren’t buying because they want to but rather because they feel like they have to. When people say they are panicking into “the market”, what they really mean is they are panicking out of bank deposits or other safe assets. This pa...