2010 2nd Quarter Commentary

The second quarter marked a pause in the 18 month rally in the equity markets. International markets performed substantially worse than domestic ones, particularly when translated into U.S. Dollar terms. Much of this correction stemmed from the uncertainties in Europe and lackluster domestic indicators of economic activity. The last three months have brought market participants to a point where many feel we are evenly balanced between economic decline and growth. That viewpoint is reflected in asset prices in both the stock and bond markets. We hold to our belief [...]