2009 Year-End Review: After continuing to freefall for the first nine weeks of 2009, financial markets began to regain their footing in the second half of March and went on to stage one of the most dramatic recoveries in recent times. Unprecedented fiscal and monetary stimulus efforts provided companies with opportunities to create liquidity through refinancings and rights issues. Deflation concerns subsided, and the economic outlook improved. Investors embraced these developments and took advantage of historically low market valuations. Most non-Treasury markets rallied sharply and closed the year with strong cumulative returns. Entering 2010, high unemployment, fiscal imbalances, commercial real estate challenges, and the plight of the U.S. consumer are among concerns weighing on investors. Read More »