May 2, 2023

Performance Insights - May 2023

Monthly report

Relief rally continues in April, despite lingering growth worries

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Most stock and corporate bond markets added modestly to Q1 gains in April, as investors weighed signs of slowing global economic growth against the rising prospects of an imminent end to central-bank rate hikes. In a stark reversal from earlier trends, financials and defensive stock groups performed best, while Q1 growth winners lagged.

Key highlights:

  • Global Asset Classes – Rally hits economic crosswinds
  • Global Equities – UK and Japan retake the lead; US stocks tread water
  • Industry returns – Defensive swings in leadership
  • Alternative Indices – REITs enjoy strong revival
  • Factor performance – Low Volatility shines
  • Foreign Exchange – US dollar gives mixed performance

This report provides actionable insights on global performance across asset classes, regions, currencies, industries and styles, using proprietary month-end data from our flagship index families.

Performance Insights is part of a series of Market Maps reports.

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