Over the last quarter, we've seen some interesting action across world markets. Some of the highlights include:
- The US was clearly the best place to position assets in the first quarter, as the MSCI US Index ended up 5.5%, while the World x US was up only 2.6% and Emerging Markets up 1.7%. Last year's underperformers are this year's winners so far. As for the world regions, Emerging Europe leads up 14.7%, with everyone else following.
- Of the G-7 Countries, Italy leads this year in a bounce-back move, while Canada and Germany post very solid numbers and lead over the last one year. The BICs - that's the BRICs without the "R" - have struggled and are basically flat, while oil rich Russia is up 16.3% YTD.
- Mid-caps lead the sizes, while the styles of Growth, Value, and Core are basically even. Of the 10 US sectors, Energy is 8% above the next best sector posting a big 16.3% return over the last three months. Industrials are second up 8.2%, followed by the remaining sectors up between 1% and 5%. In commodities, silver and crude oil are rocking, while gold, lumber and copper aren't.
To view today's complete quarter-end World Wrap, click here.
Keith Hays & Justin Wood
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