Julien Moutier

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From Archive 31 May 2012

By PWM Editor

“The same causes produced the same effects: disappointing economic data in the US and fresh anxiety concerning the sovereign crisis in Europe made equity markets fall in April. On top of that, recent Chinese GDP data revealed a growth slowdown in the first quarter. We removed our exposure to commodities which may suffer from lower demand. On the other hand, the US high yield market remains attractive, and we further increased our exposure to the AXA WF US High Yield Bonds fund.”

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