by Karl C. Mergenthaler, CFA, William Pometto and Helen Zhang
J.P. Morgan Investment Analytics & Consulting
karl.c.mergenthaler@jpmorgan.com, william.x.pometto@jpmorgan.com, helen.x.zhang@jpmorgan.com
AS OF JULY 2010
| Index |
Monthly Return |
Trailing 3 Months |
Year to Date |
1 Year |
2 Year |
3 Year |
5 Year |
10 Year |
| BARCLAYS CAPITAL US AGGREGATE BOND INDEX |
1.07 |
3.52 |
6.46 |
8.91 |
8.38 |
7.63 |
5.96 |
6.48 |
| M.L. HIGH YIELD INDEX |
3.46 |
1.24 |
8.46 |
23.96 |
13.60 |
8.64 |
7.38 |
7.66 |
| MSCI EMERGING MARKETS FREE GROSS |
8.40 |
(1.80) |
1.85 |
20.24 |
0.16 |
(1.28) |
13.35 |
11.82 |
| MSCI-Eafe (Net) |
9.48 |
(4.08) |
(5.00) |
6.26 |
(9.31) |
(10.28) |
2.10 |
1.51
|
| RUSS-Russell 1000 Growth (Gross) |
7.13 |
(6.49) |
(1.06) |
(13.65) |
(3.21) |
(4.25) |
0.80 |
(4.08) |
| RUSS-Russell 2000 Value (Gross) |
7.14 |
(10.48) |
5.38 |
20.11 |
(2.38) |
(4.97) |
(0.24) |
7.87 |
| RUSS-Russell 3000 (Gross) |
6.94 |
(7.17) |
0.47 |
14.82 |
(4.29) |
(6.34) |
0.05 |
(0.08) |
| S&P 500 - CAP. WEIGHTED |
7.01 |
(6.69) |
(0.11) |
13.84 |
(4.55) |
(6.78) |
(0.17) |
(2.25) |
U.S. EQUITY
- U.S. equity markets posted strong returns in July as the S&P 500 increased 7.01%, erasing almost all the losses in the first half of the year.
- Small Cap Value stocks also saw solid gains, with the Russell 2000 Value Index returning 7.14% in July.
|
FIXED INCOME
- Fixed Income held steady as the Barclays Aggregate Index posted a return of 1.07% in July. Interest rates continue to remain low, raising potential deflation concerns.
- High Yield enjoyed a favorable 3.46% return, making the YTD return 8.46%.
|
INTERNATIONAL EQUITY
- International Equity generated strong returns with the MSCI EAFE posting 9.48% returns, as Europe has delivered some encouraging developments to ease debt concerns.
- Emerging Markets also showed positive performance, generating a gain of 8.40% in July, despite further evidence that China’s economy is slowing.
|
REAL ESTATE AND OTHER
- The MSCI U.S. REIT Index increased 9.71% in July.
- Investors remain wary of July’s strong rally as it lacks a fundamental catalyst. U. S. GDP saw small gains of 2.4% in the second quarter, showing slow recovery and signs of a weakening consumer.
- Unemployment remains at 9.5% in July, indicating little signs of significant improvement.
|
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