A look back at markets in April, when shares rebounded supported by stimulus measures and hopes that lockdowns could ease.
- April saw global equities rebound as investors began to focus on expectations that economic lockdowns could soon ease and economies start to recover.
- US shares gained. The S&P 500 Index saw its strongest monthly rally in 30 years, shrugging off negative data indicating sharply rising unemployment.
- Eurozone equities advanced as some countries began to allow some parts of the economy to reopen. The healthcare and information technology sectors were among the top gainers.
- UK equities recovered over the period. The government declared the country had passed the peak of Covid-19 and began preparations to ease lockdown measures.
- Japanese shares also gained as investors focused on the global picture; however, a gradual increase in Covid-19 cases led to a state of emergency being declared by the central government.
- Emerging market (EM) equities advanced too but slightly underperformed developed markets. India and Pakistan were the best performing markets in the EM index, supported by easing from their central banks.
- Government bonds broadly declined (meaning prices rose), although Italy was an exception. Corporate bonds outperformed government bonds.
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