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Monthly Market Monitor - November 2010

Market Indices1OctoberYear-to-Date
S&P 5003.80%7.84%
MSCI EAFE3.55%2.25%%
MSCI Emerging Markets2.81%11.75%
Barclays U.S. Aggregate Bond0.36%8.33%
Barclays Municipal-0.28%6.53%%
Barclays US Corporate High Yield2.58%14.41%

Characterized by strong corporate earnings recoveries here in the US and abroad, the broad-based S&P 500 equity index continued to roll higher during October, extending September’s rally to the best September & October 2-month performance in twelve years (since 1998), up 12.76%. Bond markets broadly were modestly positive for the month, extending the year’s strong returns. Investors increasingly believe the Federal Reserve will not only keep interest rates at all-time record lows, but implement additional new stimulus measures to ensure economic vitality. The central bank is concerned that although U.S. economic growth is sufficient to avoid slipping back into recession, it is too slow to meaningfully revive private sector job creation. The US dollar weakened against most major foreign currencies in October, setting a new 15-year low against the yen. Questions over China’s growth sustainability were put to rest in October as rebounding Chinese consumer demand and strong manufacturing reports reassured global markets.
  1. Morningstar Direct

Prepared by:Richard Anderson, Equity Research Director and Alex Kaye, CFA, Head of Research Research Department, Cetera Financial Group

If you have any questions, please contact Scott Rivera, Cetera Financial Group, at (310) 257-7689.The views are those of Richard Anderson, Equity Research Director and Alex Kaye, CFA, Head of Research, Research Department, Cetera Financial Group, and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

All economic and performance information is historical and not indicative of future results. The market indices discussed are unmanaged. Investors cannot directly invest in unmanaged indices. Please consult your financial advisor for more information.

Additional risks are associated with international investing, such as currency fluctuations, political and economic instability, and differences in accounting standards.

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