What a quarter! Global equity indices are all up double digits so far in 2012. Economic data in the US has been mildly positive. US consumer spending rose 0.8% in February with the jobless rate of 8.3% unchanged from January. As for Europe? Not as positive. In fact, European leaders agreed to raise emergency lending limits in a proactive attempt to support Spain and Italy. Spain has proposed its own austerity measures, sparking Greek-like protests by the masses that are already face a daunting 25% unemployment rate. Markets rebounded (tepidly) on the final trading day of the quarter as news about the rescue fund was released.