Capital market sentiment showed considerable improvement during the second quarter of 2009, buoyed by early signs that a number of leading indicators were declining at a slower pace. Significant equity and debt was issued during the three months, particularly by financial institutions and real estate companies in the United States and the United Kingdom.

The Dow Jones Brookfield Global Infrastructure Index was up 17.4 percent for the three months ending in June. The Dow Jones Brookfield Global Infrastructure Composite Index, which includes Master Limited Partnerships (MLPs), also was up 17.5 percent. Global equities benefited from a rebound in financial stocks during the quarter, with global financials up 36.5 percent in the quarter (Dow Jones Wilshire Global Financials Index).

Global infrastructure securities remained less volatile than other listed sectors, including equities and real estate securities. A number of infrastructure companies issued equity, although not