Major equity and credit markets provided positive investment returns in May, as investors continued demonstrating a greater willingness to invest in riskier assets. The S&P 500 and the Russell 3000, two broad indicators of U.S. equity performance, both increased 5.3% in May, resulting in positive year-to-date investment returns for U.S. stocks. International equities, as measured by a broad index of stocks issued by foreign countries, were among the best-performing asset classes and advanced nearly 14% for the month. In addition, the Lehman Corporate Debt Index, a key indicator of the performance of investment-grade bonds issued by U.S. companies, advanced 3.4% for the month. Riskier instruments, such as below-investment-grade bonds, bonds issued by distressed borrowers and debt issued by developing countries, showed even stronger performance.

Read the entire May 2009 Investment Report.

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