The month of “Sell in May and go away” is just about to end with a happy ending for risk assets.
Thanks to weaker USD and waning global inflation risks.
Last week, major global stocks made a comeback as inflation fear subsided. The market focus was on the consumer data with purchases of goods and services that climbed 0.5% in April, after a revised 4.7% jump in March, the biggest jump since last June. The 10-year Treasury yield briefly fell
below 1.58% despite an astonishing 0.7% increase of the core consumption prices, i.e. the largest monthly gain since October 2001….
