Archive for March, 2012

March 2012

March 31, 2012  |   Monthly Commentary   |     |   0 Comment

Looking past the noise of day-to-day market volatility, the investment climate has improved markedly since the end of 2011. The feared collapse of the global banking system has faded with European Central Bank’s Long Term bank funding operation and, while Greece was unable to avoid default, the write-down of Greek debt occurred without the messy contagion that was feared. Given that improved backdrop, investors have pushed the price of the S&P 10% higher through the ...