S&P 500 Index: A broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. This index does not contain the 500 largest companies nor the most expensive stocks traded in the U.S. While many of the stocks are among the largest, this index also includes many relatively small companies. This benchmark is used for comparative purposes only and is not intended to parallel the risk or investment style of the accounts included in the Composite.
Russell Midcap Growth Index: Measures the performance of those Russell Midcap companies with higher price-to-book ratios and higher forecasted growth values. The stocks are also members of the Russell 1000 Growth index.
Russell 2500 Value Index: Measures the performance of those Russell 2500 companies with lower price-to-book ratios and lower forecasted growth values.
Lehman Brothers Intermediate Government/Credit Bond Index: The LBIGC is composed of approximately 3,500 publicly issued corporate and U.S. government debt issues rated Baa or better, with at least one year to maturity and at least $1 million par outstanding. The index is weighted by the market value of the issues included in the index.
May 2, 2008 -
There are signs of healing in the financial markets, but markets are not yet out of the woods.
On the plus side, credit spreads have decreased, the two-year treasury yield has risen and is now above the Fed Funds rate, and the S&P 500 rallied over 60 points in April.
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