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2015 Commentary

January 15, 2016
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

Fourth Quarter 2015 Financial Market Review

Investors will most likely remember 2015 as the year that volatility and fear returned to the financial markets. After several years of very low volatility and ...
January 15, 2016
By Tim R. Bray, CFA, CAIA, Senior Portfolio Manager

Fourth Quarter 2015 Fixed Income Market Review

It has been nearly seven years since the Great Recession, and after a painfully slow recovery, the Federal Reserve (Fed) finally decided in December that the U....
January 15, 2016
By Jay H. Edmondson, Manager of Investment Research

Fourth Quarter 2015 Equity Market Review

Global equity markets showed resilience in the fourth quarter and erased a good portion of the losses suffered in the prior quarter. Familiar themes such as mod...
December 16, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

The Federal Reserve today elected to raise the target Fed Funds rate.

As was largely anticipated, the Federal Reserve today elected to raise the target Fed Funds rate by 0.25%, to a range of 0.25% to 0.50%. This is the first incr...
October 14, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

Third Quarter 2015 Financial Market Review

The third quarter marked the long-awaited return of stock market volatility. Issues ranging from slowing Chinese growth to U.S. Federal Reserve (“Fed”) policy ...
October 14, 2015
By Tim R. Bray, CFA, CAIA, Senior Portfolio Manager

Third Quarter 2015 Fixed Income Market Review

The third quarter of 2015 was marked by heightened market volatility and investor risk aversion. Concerns over slowing economic growth out of the emerging mark...
October 14, 2015
By Jay H. Edmondson, Manager of Investment Research

Third Quarter 2015 Equity Market Review

Global equity markets suffered through a difficult quarter as investors continued to weigh the positive indications of a generally improving U.S. economy agains...
September 17, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

Federal Reserve came to a decision – now what?

In a decision that was not unanimous, the Federal Reserve (“the Fed”) today elected to maintain the target Fed Funds rate at the same 0% -0.25% range in which i...
August 21, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

The inevitable return of stock market volatility: How can investors manage the bumpy ride?

Have you ever been on a rollercoaster, or white water rafting, or suffered through turbulence while flying? The feeling of a loss of control is palpable as you...
July 20, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

Second Quarter 2015 Financial Market Review

U.S. economic growth improved in the second quarter of 2015, but, in contrast to the strong first quarter showing, most financial investments generated meager t...
July 20, 2015
By Jay H. Edmondson, Manager of Investment Research

Second Quarter 2015 Equity Market Review

During the second quarter of 2015, global equity markets registered mixed results as investors weighed the positive indications of an improving U.S. economy aga...
July 20, 2015
By Tim R. Bray, CFA, CAIA, Senior Portfolio Manager

Second Quarter 2015 Fixed Income Market Review

After posting solid gains in the first quarter, fixed income markets generally took a step back in the second quarter. The period was full of action, with forei...
July 20, 2015
By David S. Spika, CFA, President, GuideStone Capital Management, LLC

Interest Rates - why are they rising and what are the implications?

Interest rates have become a very hot topic over the past few years. Investors are concerned that higher interest rates, both short and long-term, could impede...
April 20, 2015
By Matt L. Peden, CFA, Chief Investment Officer

First Quarter 2015 Financial Market Review

Moving into calendar year 2015, the U.S. economy continued to serve as the primary economic engine amidst a somewhat fragile global economy. The first quarter w...
April 20, 2015
By Jay H. Edmondson, Manager of Investment Research

First Quarter 2015 Equity Market Review

During the first quarter of 2015, global equity markets generally advanced as familiar themes such as lower oil prices, a strong U.S. dollar relative to most ot...
April 20, 2015
By Tim R. Bray, CFA, CAIA, Senior Portfolio Manager

First Quarter 2015 Fixed Income Market Review

Monetary policy divergence gained momentum in the first quarter. Key central banks continued extraordinarily accommodative monetary policy measures during the q...