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Market Perspective Summary

    Capital Markets Outlook Summer 3Q13

    Perspective Reveals Potential Opportunities… and Risks

    July 23, 2013

    Risk assets were rolling along in 2013 before stumbling in late May. Concerns about a “tapering” of the US Federal Reserve’s bond-buying as well as slower growth in China and the effectiveness of Japan’s economic policies caused stocks to slump and bond yields to rise sharply. Perspective is important, given recent developments. Investors should focus on long-term goals and appropriate allocations, diversifying and adapting as markets evolve.

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