Global Market Review - June 2012

A relief rally on the last trading day of June managed to salvage an 'up-and-down' month across equity markets but failed to redeem a difficult quarter. The source of the relief was the relaxation of conditons on the 100 billion Euro loan to the Spanish banking system and the hope that Germany was softening in its opposition to collective debt issuance of Euro bonds. Less promising are signs that the US economy is rapidly weakening: the ISM manufacturing purchasing managers' index (PM) plunged to 49.7 from 53.5 in May, a reading which indicates economic contraction.

Read CFAL Global Market Review - June 2012

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