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Par Daniel Van Hove, CFA, Managing Director Bellatrix Investments S.A.
EQUITY MARKETS
U.S. equities, measured by the S&P500 index, posted a 5.39% decline in June 2010 after losses of 8.20% in May 2010 and 10.99% in February 2008. For Q2-10, the index is down 11.86%, marking the worst quarter since Q4-2008 loss of 22.56%. The first half of 2010 (H1-10) showed the index down 7.57%, which is the worst start for the index since 2002 when it lost 13.78%. The S&P SmallCap 600 index declined broadly again in June 2010, posting a 7.17% drop on top of May’s 7.29% loss. It is down 8.97% for Q2-10 and down 1.40% for H1-10. Financial stocks in the S&P500 index have slumped 20.8% since their 2010 peak, while energy shares have fallen 19.8%, the biggest declines among 10...
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