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28 June 2011
So far June has not proven to be a good month for stocks. Most domestic indices are still positive for the year but the international markets are negative for 2011. I believe we will continue to see choppy markets for the remainder of 2011 as the economic recovery appears anemic at best. Until we begin to see some growth in the labor markets and just the slightest uptick in the real estate market--the economy is really just stuck. Bonds have done well despite all the hoopla over higher interest rates coming down the pike and municipal bonds have staged a comeback also despite the doomsday predictions. Here is where we stand so far this year:
S&P 500: -4.71% for June and year to date up 2.68%
Mid cap stocks: -4.91% for June and up 5.38% for 2011
Small cap stocks: -4.72% and 4.34% for the month and year respectively
International is down 5.66% this month and -1.42 for the year, while emerging markets are are down 4.58% June and -2.80% for 2011
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