Equity and bond markets extended their advance in the month ...

Equity markets registered a sixth consecutive month of positive returns and the best performance for the month of August since 2000. As measured by a broad index of U.S. equities, investment returns for stocks were up 3.6% in the month and up 16.3% year-to-date. International equities modestly outperformed their U.S. counterparts as stocks of companies in developed countries advanced 5.4% in August. Stocks of developing countries underperformed developed-market stocks, despite having meaningfully outperformed for the past several months. This was largely due to a decline in the Chinese stock market. Developing-market equities nevertheless have advanced 50.8% so far in 2009.

Read the full August 2009 Investment Report.

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