Marketing Commentary- Q2 2006
What’s Been Happening? After a long run up, International and Emerging Markets took short, swift dives in May and June. The 25% decline from peak to trough in Emerging Markets qualifies as a true bear market by most definitions. Comparatively, US markets fell only modestly, not even qualifying for an official “correction” (10%). By the end of June, the asset classes that had fallen the most began to recover. All this occurred with heavy trading volume which we suspect means those who rushed in at the wrong time lost a fair amount of money. Bonds muddled along, mostly losing small amounts due...
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