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Page
1. a
The Market Env &
International and Regional Market Index Performance (Country Count)
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Quarter Performance
Emerging markets outside of Asia su ffered the worst returns during the An wand, US pa, e2%
quarter. Brazil was down 18. 8% during the quarter as GDP growth
s-
prospects waned Brazil Is the worst -performing stock market year to WORLD x US Inl s
date. No regions escaped the dedine during the quarter, however
Mexico Wes down the least and leads the pack for the year -to -date EArE ( 22)
period, up 14. 3%.
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France elected socialist party candidate, Francois Hollande, as its new zex
President in April. Greece finally elected a new government by a slim
margin in June after previous failed attempts in May Despite electing E, wg,, g Mn (21) R
the New Democracy party that promised to work with other Eurozone EM rump, I5I
nations In a restructuring, the country 's future remains questionable.
The last market day of the quarter brought a seemingly productive end EM Aaa tat 7a% 65%
to the sure zone summit—with an agreement to create a single bank
regulator that would allow for the direct recapitalization of banks_ EM Lan, Anne ( 5)
Markets roared on another effort to lick the " debt can' further down
the road.
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1Year Performance •
Cyclical Sectors performed the worst during the quarter, especially
Materials stacks which were down 13. 0% Defensive sectors like Ac wand.
Ac US , 4
wand. US , 4 T
Telecom and Healthcare actually recorded positive performance in
developed markets.
WORLDWORLD
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The USD went back to its strengthening mode ( except versus Yen) runtyrunty 111111
afterafter aa briefbrief hiatushiatus duringduring thethe firstfirst quarter.quarter. USUS TreasuriesTreasuries andand
Japanese Yen remain the safe havens in nek -off periods, eac,fict sx
eivey,eivey, gMM,gMM, 11,11,
The one -year performance results for non -US equities sunk even
deeper Into double -digit negative territory with USD appreciation EMEM Lure,Lure,
exacerbating the loss for US investors. 143%
