The second quarter of 2012 has so far been a complete reversal of the first quarter. Ā As of earlier this morning, just one stock-related ETF in our matrix below was up for the quarter -- Utilities (XLU). Ā Major US index ETFs are all down 4-5% for the quarter, while sectors like Energy (XLE) and Financials (XLF) are down 7%+.
International markets have done much worse than the US. Ā Brazil (EWZ), France (EWQ), Germany (EWG), India (INP), Italy (EWI), Spain (EWP) and Russia (RSX) are all down double digit percentages since the start of April, and they're down 5%+ over the last week alone. Ā The only asset class that is solidly in the green for the quarter is fixed income, which many investors shunned like the plague as recently as March. Ā Oh how quickly things change.
