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Market Perspective Summary

    Capital Markets Outlook Spring 2Q13

    Focusing on Fundamentals

    April 24, 2013

    Against a solid—though uneven—global economic backdrop, risk assets remained strong in the first quarter. We expect markets will focus more consistently on the fundamentals of economic growth and capital markets going forward. Despite a lengthy stock rally and low interest rates, active management and selectivity should continue to provide investors with plenty of opportunities in both equities and fixed income.

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