How quickly things change. In the first quarter of 2009 equities were down 9-15% depending on the benchmark.  That dismal performance included a significant rebound of 20% from March lows.  Fortunately the rally continued into the second quarter and resulted in positive returns for the quarter.  Domestic equity markets were up 16-21% during the quarter putting the S&P 500 up 3% for the year with mid caps the best performer up 10% for the year.  International markets also enjoyed a strong quarter up 25% with emerging markets up 35%.  For the year developed international markets are up 8% and emerging markets are the strongest performer up 36%.  Bonds posted positive results for the quarter and are up 2% for the year as measured by the Barclays Aggregate bond index.