Financial markets started 2023 on a positive note as stocks and bonds both saw gains in January. It was a welcomed change as many investors hope to put 2022 firmly in the rearview mirror. As shared in our annual outlook, we forecast that 2023 will be a year of more normalized market conditions, albeit against | Read More +
Our Thinking
Our Perspective: The Debt Ceiling Limit
As the U.S. government continues to debate the debt ceiling, we want to share our thoughts, provide some context on the current situation, and put the developments into a broader perspective. What has happened? Treasury Secretary Yellen sent a letter to Congress this past Friday (1/13/2023), informing members that the U.S. would hit the current | Read More +
Sage 2023 Annual Letter
Following three consecutive years of positive returns, 2022 was a challenging year for investors as portfolios struggled in the face of prolonged periods of market volatility, the decline of both stocks and bonds, unprecedented interest rate hikes, high inflation, anticipation of a recession, and geopolitical conflict. We are cautiously optimistic, based on our experience and | Read More +
Sage 2023 Investment Outlook
2022 in Review: A Year of Very Difficult Performance for Stocks and Bonds When we sat down to write our outlook for 2023, we first reflected on 2022 — a year that tested resilience, patience, and focus. After three consecutive years of positive returns, markets quickly changed direction in 2022. By March, we found ourselves | Read More +
Sage Insights: Markets Bounce as Economic Growth Slows and China Adjusts Its COVID Policy
In November, financial markets recovered some of the ground lost during the previous ten months. This was the second straight month of positive returns for equities, which is encouraging in a year with no shortage of challenges. At the same time, bond returns had their strongest single month of 2022 in November. As we look | Read More +
Sage Insights: Federal Reserve Rate Hikes Persist, Political Volatility in China, and Perspective on the Journey of Investing
October was a very strong, yet volatile, month for the equity markets driven by aggregate positive corporate earnings. Bonds prices declined modestly as interest rates continued to rise. For most investors, this widespread historic selloff has created bumps in their investment journeys, underscoring the value of custom investment plans. The unfortunate reality is that large | Read More +
Sage Insights: Global Growth Slows and Valuations Compress Amid Historic Central Bank Tightening
Stocks and bonds lost ground in September, completing a third consecutive quarterly decline. Across the globe, central bankers continued to increase interest rates and the cost of borrowing at an unprecedented speed in an effort to control inflationary pressures. This swift rise in interest rates has created the risk of a monetary policy-induced recession, along | Read More +
Sage Insights: Central Banks Seek Equilibrium, Europe’s Energy Problem, and a Broader Investment Perspective
Stocks and bonds had a broadly negative month in August. Bond returns were negative in most areas of the world as interest rates continued to rise. Stocks in the U.S. and other developed markets declined on average while emerging market stocks were positive. While the indices were mixed, persistent volatility in prices signaled that the | Read More +
Sage Recognized as a Leading Best Place to Work
We are proud to share that Sage has been recognized as the #2 Best Place to Work among companies of similar size by the Philadelphia Business Journal. This accolade is particularly important to us because it focuses on culture and attitude, two aspects of Sage that we take great pride in and consider our “secret | Read More +
Sage Insights: Technical Recession, Economic Data Versus Equity Markets, and A Broader Perspective
Stocks and bonds both performed well in July, providing a moment of positivity in what has been a challenging environment for the global economy and financial markets. Still, markets have remained volatile, which we know can create stress. We feel it too. While markets had an encouraging July, the headwinds they have faced for much | Read More +
