The NIC Fund performance commentary for the month May 2012 is now available here.
May’s news regarding politics in Europe and the economy on both sides of the Atlantic created a fertile ground for further bearish sentiment, after the previous’ month stock market drop. Greece’s political stalemate and concerns about a Eurozone dropout weighed heavily in the stock market during the beginning of May. In the meanwhile the crippling situation of the Spanish banks, with Bankia’s eminent bailout and the bank downgrades, and the overall economy, with the likely inability to meet deficit targets, fuelled bearishness throughout the rest of May.
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