As usual, the financial markets were very interesting. The month of March saw extreme volatility -- and weirdly enough, some markets remained relatively flat for the month. U.S. stocks and bonds ended the month mostly flat, with the S&P 500 closing at 1326 after opening the month at 1327.
Events in Japan and Libya created extreme volatility and whipsaw-like market action for many markets. The Japanese Nikkei index plummeted -20% before bouncing back to end the month down about -10%. Many other markets such as sugar, oil, and grains also saw reversals in long-term trends and then a bounce-back.
Managed futures indices and benchmarks tabulated by Barclays and NewEdge were down about -2% to -5%. Trading advisor performance was generally down, with performance in a wide range. In general, the commodities sectors fared better than the financial sectors.