Global Market Summary
Global bond yields remained close to the highs of the year as incoming U.S. economic data showed ongoing strength. The economic news followed the unprecedented strikes on Israel by Iran over the weekend, which briefly pushed oil prices higher. In the Eurozone, comments from European Central Bank (ECB) policymakers continued to indicate that the ECB easing cycle could begin in June, as long as inflation continues the improvement seen over recent months. Spreads across major credit sectors widened and total returns were negative. The U.S. dollar advanced against the euro and the average spot currency performance in emerging markets was negative for the week.