Gain perspective into the rapidly changing financial landscape and understand the implications it may have for you. Northern Trust offers access to valuable insights and tools to help you navigate the latest financial developments. Our recognized financial industry experts will discuss current market events and provide their analysis.

Investment Strategy Commentary: Market Commentary: Sell In May … And Pay!
Jim McDonald, Chief Investment Strategist
A long-held adage in the investing world offers a directive to "Sell in May and Go Away," but can investors really gain from this strategy in practice? Our analysis shows that trying to implement this strategy is a losing proposition. Fortunately, other market anomalies have proven more efficacious and persistent. (April 2012)

Northern Trust Perspective
Jim McDonald, Chief Investment Strategist
Monthly global analysis designed to keep you abreast of the latest economic and market changes. (April 2012)

1Q12 Investment Manager Survey
Chris Vella, Chief Investment Officer, Multi-Manager Investments
Our first quarter investment manager survey revealed an improved outlook for both the market environment and U.S. economy. (April 2012)

Market Commentary: Oil: Keep an Eye on Supply
Jim McDonald, Chief Investment Strategist
It is our view that the primary cause of the current high price of oil is global supply and demand — and that high oil prices by themselves do not mean an economy will head into recession. (March 2012)

Northern Trust Perspective
Jim McDonald, Chief Investment Strategist
Monthly global analysis designed to keep you abreast of the latest economic and market changes. (March 2012)

Don't Be Afraid of Bond Funds in a Rising Rate Environment
Harlan H. Thompson, CFA, Senior Investment Officer
Even in a rising rate environment, a bond fund can be a productive investment vehicle within a diversified portfolio.

Morningstar Recognizes the Prudent Investment Approach of Three Northern Funds:
Northern Multi-Manager Emerging Markets Equity Fund analyst report
Northern Income Equity Fund analyst report
Northern Small Cap Value Fund analyst report

4Q11 Investment Manager Survey
Chris Vella, Global Director of Manager Research
Our fourth quarter manager survey reveals optimism for the U.S. economy and markets but continued concerns regarding the European debt crisis.

Market Commentary: 2012 Outlook: Tug of War
Jim McDonald, Chief Investment Strategist
After 2011's challenging market environment, we see the markets in 2012 engaged in a “tug of war” between improving growth in the United States and emerging markets and the continuing negative consequences of the global debt crisis.

Market Commentary: It Takes Two to Make A Deal
Jim McDonald, Chief Investment Strategist
While we continue to believe an orderly restructuring of Greek debt is possible, it takes two to make a deal — and right now the Greek side of the negotiating table is in flux.

Market Commentary: Euro Debt Crisis: Merkozy Delivers
Jim McDonald, Chief Investment Strategist
European leaders appear to have outperformed market expectations with the Euro Debt Crisis rescue package but it’s important to keep in mind: there's still much work to do.

3Q11 Investment Manager Survey
Chris Vella, Global Director of Manager Research
Our third quarter manager survey reveals managers' opinions of the struggling economy and financial markets and highlights asset classes on which they remain bullish.

Market Commentary: High Yield Bonds — Please Don't Call Me Junk
Jim McDonald, Chief Investment Strategist
Recent worries over the U.S. and global economies, coupled with increased stress in the financial system, have pressured high yield spreads and investment returns. Yet these stresses have made valuations more attractive.

Municipal Bonds: Now More Than Ever, Credit Quality Matters
Tim McGregor, Director, Municipal Fixed Income
Given the elevated volatility in the municipal bond market in the foreseeable future, we believe that a disciplined approach to muni credit quality review and evaluation is critical.

Investment Strategy Commentary: Twisted Outcomes
Jim McDonald, Chief Investment Strategist
Analysis on the Fed's Operation Twist announcement and recessionary signals.

Investment Strategy Commentary: Lead, Follow or Get Out of the Way
Jim McDonald, Chief Investment Strategist
Slowing economic growth, European sovereign credit concerns worry investors.

Investment Strategy Commentary — The U.S. Debt Downgrade: It's the Indirect Effects That Matter
Jim McDonald, Chief Investment Strategist
Get analysis on how Standard & Poor’s downgade of U.S. long-term debt may play out in global debt and equities markets.

Investment Strategy Commentary — What's Behind the Downturn?
Jim McDonald, Chief Investment Strategist
US Markets suffered one of their worst weeks since 2008. What's behind the current downturn?

Investment Strategy Commentary — The Debt Ceiling Deal: Hold the Applause
Jim McDonald, Chief Investment Strategist
Analysis on the debt ceiling deal and its likely effects on the markets.

Municipal Bonds: Are the Concerns Fair or Foul?
Bob Browne, Chief Investment Officer
Tim McGregor, Director, Municipal Fixed Income
Understand what factors muni investors should focus on, given expectations for higher-than-historical volatility.

Investment Strategy Commentary — The Specter of Rising Interest Rates
Jim McDonald, Chief Investment Strategist
With interest rates near historic lows, increased inflation and its effects on the fixed income markets are examined.

Investment Strategy Commentary — Japanese Aftershocks
Jim McDonald, Chief Investment Strategist
Analyzing how the Japanese nuclear crisis could affect recent global economic expansion.

Investment Strategy Commentary — Let Freedom Ring?
Jim McDonald, Chief Investment Strategist
The recent outbreak of protest and governmental change in the Middle East and North Africa could mean big changes for financial markets.

1Q11 Investment Manager Survey
Chris Vella, Global Director of Manager Research
Our first quarter survey of external managers revealed increased caution among investors as fears of inflation rise.

Investment Strategy Commentary — 2011 Outlook
Jim McDonald, Chief Investment Strategist
Get a comprehensive investment strategy outlook for 2011, including our views on all major asset classes.

Municipal Market Update
Tim McGregor, Director, Municipal Fixed Income
Insight on the recent negative municipal market headlines and an outlook for munis in 2011.

Municipal Market Disclosures Q&A — SEC Charges New Jersey with Securities Fraud
Northern Trust Municipal Fixed Income
Northern Trust’s ongoing commitment to strong municipal credit research and the regulatory environment around muni bond disclosures are discussed.

Municipal Bonds: Much Healthier Than Feared
Jim McDonald, Chief Investment Strategist
Despite several states struggling to balance their budgets, muni bonds have performed well during this difficult economic environment.

Is Now the Right Time to Harvest Gains?
Mary Lukic, CFP, Portfolio Manager, Tax Advantaged Equity
Christopher A. Fronk, CPA, CFA, Senior Portfolio Manager and Strategist, Tax Advantaged Equity
Increased levels of unrealized capital gains combined with a potentially higher tax rate environment in 2011 and beyond make strategic tax planning a critical element in maximizing an investor’s after-tax wealth.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. This material is for information purposes only. The views expressed are those of the author(s) as of the date noted and not necessarily of the Corporation and are subject to change based on market or other conditions without notice. The information should not be construed as investment advice or a recommendation to buy or sell any security or investment product. It does not take into account an investor's particular objectives, risk tolerance, tax status, investment horizon, or other potential limitations. All material has been obtained from sources believed to be reliable, but the accuracy cannot be guaranteed.