May market update – the global economy is starting to re-open

Chief Investment Officer Chris Godding and Senior Research Analyst Louie French give their commentary on what happened in the markets and global economies over the month of May 2020

Published on 11 Jun 20201 minute read

Global equity markets continued their recovery over the month of May following earlier stimulus packages, with a notable increase in risk appetite amongst investors as the global growth rate of Covid-19 cases continued to slow and the global economy gradually started to re-open.

In this edition

There were positive returns from developed market equities over the month. Commodity markets were also strong performers, with energy prices notably higher on a pick-up in demand and agreed cuts to oil supply from the OPEC+ producer group
Within fixed income markets, credit spreads continued to tighten and high yield outperformed
In currency markets, sterling was weaker over the month as the UK and EU negotiators made little progress on trade talks

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