GTTM: Market Review

Review of markets, February2012

February sawa continuation of the rally in global risk assets that began in December lastyear. Further unconventional monetary policy from the European Central Bank(ECB), the Bank of England (BoE) and the Bank of Japan (BoJ), together withcontinuing positive economic data from the US, supported global equity and highyield fixed income markets.

The MSCIWorld index ended February up 9.3% year to date, the MSCI Emerging Market indexup 12.3%, while the JPMorgan Global Bond Index has risen just 0.8%. By style,global large cap stocks performed broadly in line with small cap, while growthperformed a little better than value.


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