Global markets continued to rebound in April. Other than US REITs, which fell modestly in the kick-off to the second quarter, all the major asset classes posted gains last month, building on March’s strong rally. Leading the way: commodities broadly defined. The Bloomberg Commodity Index surged 8.5% in April, dispensing the biggest monthly increase in nearly six years. The snapback in commodity prices last month also marks the second monthly gain for raw materials—the first set of back-to-back monthly increases in two years.
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● US Personal Income Rises Slightly More Than Expected In Mar | RTT
● US consumer spending growth slows in Mar despite higher income | LA Times
● Consumer sentiment for US edges lower in Apr | CNBC
● US labor costs rise modestly in first quarter | Reuters
● Chicago PMI falls to 50.4 in April, close to stagnation | MarketWatch
● PMI: Eurozone mfg growth is lacklustre in Apr; French downturn deepens | Markit
● China Mfg PMI unexpectedly slips in Apr as stimulus fades | MarketWatch
● Listen Carefully for Hints of the Next Global Recession | NY Times