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Despite a great deal of price volatility, the equity market was essentially unchanged during the 2015 second quarter. US equity returns outperformed most asset classes, including US Treasury bonds, investment-grade corporate bonds and gold. The S&P 500 recorded a modest total return for the second quarter of +0.3% (price change plus reinvested dividends) and the Dow Jones Industrial Average had a negative total return of -0.3%. The month of June saw a different picture with the S&P 500 declining -1.9% and the Dow Jones Industrials decreasing -2.1%. The S&P 500 barely remained in positive territory (+1.2%) for the first half ...

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