Yesterday, as expected, The Federal Reserve increased its benchmark interest rate by half a percentage point, in line with market expectations. In this note, we highlight the key facts, market reaction and share our view.

After a dismal first quarter of the year, the month of April only saw equity markets volatility increase / continue and proved to be the worst month for a bond/stock portfolio in over two decades. Here are 10 stories to remember from an eventful month.

The major US equity indexes endured a 4th consecutive week of losses, as disappointing earnings results from Amazon.com (-14%) and growth fears weighed.

EU natural gas prices soared by as much as 20% yesterday morning, after Russian energy giant Gazprom announced it had halted gas supplies to Bulgaria and Poland for failing to pay for gas in rubles.

The major U.S. equity indexes ended the week lower with the communication services sector pulling back the most.

Below are answers to our client’s most frequently asked questions on inflation, the yen and the surge in commodities prices.

China's imports unexpectedly fell in March as COVID-19 curbs across large parts of the country hampered freight arrivals and weakened domestic demand. China Imports YoY change is now diverging meaningfully from Commodity prices YoY change. Could it mean lower commodity prices and lower inflation down the road?

1st round of French elections takes place this Sunday. A Macron win is not a done deal anymore as Le Pen has been surging in the polls recently. Second round is in 2 weeks. A Datapraxis / @YouGov poll shows Macron at 51% and LePen at 49%.

Below are answers to our client’s most frequently asked questions on the markets, the yield curve inversion, French elections and our portfolios positioning.

S #stocks and the US yield curve are diverging meaningfully as the 2-year - 30-year Treasury Bond yield curve just inverted for the 1st time since late 2007 while the S&P 500 trades within 5% of its all-time-high.