In April 2012, we saw significant sell off in all the equity markets. The S&P was down about 6% for the month nearly erasing all the gains that we had seen earlier this year. The international market was even worse, down over 11% just for the month of May. The focus again returned to Europe along with our economic indicators showing a slowing recovery even to the point of turning negative. The unemployment rate increased for the first time in many months.
In the latter part of the video, we go over the Europeans economic situation, Greece’s opposition to austerity, talks of a Eurobond solution and why the current crisis is pushing everyone into US Treasuries and producing record low yields.