MORE HEADLINES
Economic Update
Hiring delays may be prolonged, as companies experience greater efficiency with fewer employees.
Domestic Equity
U.S. equities posted strong positive performance in the third quarter.
International Equity
Emerging market equities continued their strong rally, bringing year-to-date returns up over 64%.
Fixed Income
Companies have been paying down their bank loans through the issuance of high yield debt.
Real Estate Securities
REITs are significantly ahead of private real estate markets in addressing liquidity issues.
Hedge Funds
Managers in the bullish camp point to a number of tailwinds.
MARKET REVIEW
One year ago the equity and credit markets were falling rapidly, the government was introducing massive stimulus packages, and many feared we were headed for the second Great Depression. By early 2009, the markets appeared to be forecasting the worst case scenario. Credit investments were priced for unprecedented default rates, not seen since the 1930s, and equities had fallen over 50% from their highs in 2007.
