April was another good month for most economies on the data front, with some very notable exceptions in Japan and India. Bond yields, that had risen in prior months on the back of inflation expectations, started to fade a little. And following several stronger months, cheaper ‘value’ companies underperformed their growth counterparts. Finally, sustainability returned to the forefront of investors’ minds as the UK, US, and China all announced larger and faster reductions of carbon emissions relative to their previous commitments.

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