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February 2016 Market Commentary

Domestic equity indices stabilized throughout February providing investors a brief reprieve from the heightened volatility to start 2016.  International markets proved less resilient, experiencing losses due to ongoing concerns surrounding global growth. Fixed income indices continued their rally as investors engaged in risk-off trading. The Organization for Economic Cooperation and Development lowered its global growth forecast and called on policymakers to engage in broad government spending and reform.

For the month, the S&P 500 Index lost 0.1%, while the Russell 2000 Index of smaller companies finished flat. The industrials, telecommunications, materials and utilities sectors were the top performers, while the energy, information technology and financials sectors underperformed. Across market capitalizations, mid-cap securities generally outperformed their large- and small-cap counterparts.  There was no clear performance trend across value, core and growth styles.

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