The global financial markets fell back into a familiar despondency in the second quarter of 2012. The smoldering Euro zone crisis flared up again in May into full crisis mode, stoking fears of another financial meltdown. Euro hysteria combined with slower U.S. economic data to create a very negative sentiment among investors. This was a sharp reversal from the optimism at the end of the first quarter, when a powerful rally surprised investors to the upside.
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Canso July 2012 Market Observer
