As we highlighted in our last commentary, we expect market volatility to remain high for the remainder of 2011. This was certainly the case in the second quarter. For the quarter, the S&P 500 declined only 0.40%; however, the index dropped over 7.0% from its recent peak in early May then rallied nearly 4.2% during the final four trading days of June. Year to date, the S&P 500 has gained 5.0%.
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