A recent comparison of the major regions of the Russell Global Index shows that the regions that had performed worst in the second quarter of 2010 have reversed course in July. Conversely, regions that had comparatively better performances in the second quarter show relative weakness this month.
The Russell Europe Index, for example, which reflected a decline of 14.6% for the second quarter of 2010, has outperformed other regions for the third quarter of 2010 through 13 July (8.6%). Similarly, the Russell Developed Non-US Index and Russell Developed Index, both of which had negative returns in excess of -12% for the second quarter of 2010, are outperforming the Russell Emerging Markets Index for the third quarter through 13 July.
The Russell Asia Index, which reflected the best performance among global regions for the second quarter of 2010, is underperforming other regional indexes for the third quarter of 2010.
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