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Fort Walton Beach Council agenda — 08-27-13--regular — reading text
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The Market Eni
International and Regional Market Index Performance (Country Count)
Aa a Jun. SO. go'.
International equity markets ended the Second quarter In negative territory, • Quarter Performance uso oLao¢ ummq Y
with emerging equity markets continuing their ' worst performer" status April
Saw very strong International equity returns, while May all June were AC Wordm US ( 44)
O
progressively mare negative. Trailing one -year intemational equity returns
remain In resolve territory , with the ekoepbsn of Latin America. WORLO. w 1211
While U. S. Fed Chairman garments comments regarding possible CE eAre( 22)
tapering" may have had some negative effects on emerging equities, the
more obvious culprt was news coming out of Turkey all China Widespread Enmm( 16)
social unrest in Turkey In early June caused the local stock market to
collapse. The country had been a meant investordarling afterupgrades from 1- 1, 51
Moody 'a and Fitch from junk status to the lowest rung of investment -gade.
Investor tears of a continued Chinese economic slowdown were Emrgle Al (21)
compounded by rumors of an impending banking crisis In the country . The C
People' s Bank of China Signaled its concern In June by erg lneering a credit EM Eumpe ( 5)
squeeze to discourage loan growth.
EM Avla k)
The Japanese Yen continued its depreciation trend relative to the U. S. dollar
USE) during the quarter. Local equity returns for the country were 102% EM Lew Amer 18
return of 43% in USE. In general, Asian and emerging country
currencies also depreciated versus the USE, white developed E uropean =
currencies moderately appreciated door, the penod. 1 - year Performance ' p5° ° currency
L0°`°
Australia and New Zealand were the worst -performing developed equity AC worm US ( 44)
mallets during the quarter ( -13. 9% and - 104 %, respectively), while Peru
as by far the worst emerging equgy market at - 21. 5 %. Several developed WORLD us (ts)
equity markets ended the quarter In positive teMtory, including s venal
3e%
3e%
mm
European countres and Japan. Only Hungary, Malaysia, and Taman turned eAreeAre
( ( 22)22) coco
j
in positive performance under the emerging equity category .
Errs,Errs, U6)U6)
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33
Returns across sectors again varied wall during the quarter and displayed su 00
no trend in regards to defensive versus cyclical sectors Consumer Padn=(
Padn=( 1)1)
discretionary , telecommunications Served, and utikes stocks, on veage,
Emergrna Mkt ( 21)
were the best performers. Energy all materials stocks struggled and ended Emergrna Mkt ( 21)
2
dodo
the quarter dawn signRlcantly. re
EMEM covets)covets)
EM Asia Ial
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EMEM LatinLatin AmerAmer
( ( 5)5)
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