The "Economic & Market Review" is produced by the Investment Consulting Services group of Deloitte Tax LLP. This newsletter is presented to provide perspective and context within which to evaluate your portfolio performance, as well as a forward look at the questions, events and circumstances that may impact performance in the quarter ahead.

In this issue:

• The balance sheet recession
• Financial markets signal recession
• The real economy signals recession
• Sector performance
• Growth vs. value performance
• Foreign equity market performance
• Economic outlook
• Issues to watch and action steps

Watch Carl Steidtmann's presentation of the quarterly update by downloading the Windows Media file below or read the full report in PDF format (112 KB).