The second quarter was very rough for both foreign equities and commodities. However, thanks to Friday's action, these asset classes didn't end the quarter where they might have. See the chart below.
Some of the other highlights from around the globe this past quarter include:
- US equities finished the quarter down 3.2%, while the World x US was down 8.2%.
- Emerging Europe and Latin America had the toughest quarter, down 13.8% each.
- Italy and Germany were down over 13% as well for the quarter, Russia was down 15.5%, and Brazil was down 19.7%.
- Egypt is currently the top performer of the countries we follow, up 32.1% for the year, despite its 6% loss in the second quarter.
- Six US sectors were negative for the quarter. Energy is the only US sector that's still negative for the year, while Telecom, Technology, Financials and Consumer Discretion are all up over 12% year-to-date.
- As for US style boxes, Growth mostly leads Value for the year and Large Caps mostly lead Small Caps.
Keith Hays & Justin Wood
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