Macro and Ideas: how did the benchmarks perform in May, and asset allocation thoughts

Given the bank holiday, a shorter note this week. Stagflation worries many, and investor sentiment is still bearish. But there are bright spots…my favourite big ideas listed

Markets in April (and early May)

In the end, Liberation Day probably didn’t make that much difference in returns from investing in equities in April. In the first table below, I’ve listed my usual favourite equity market benchmarks; as you’ll see, there aren’t many noticeable moves. I’d highlight:

- Volatility measures like the Vix continued to remain abo…