Global financial markets generally climbed higher in the month of May, but at a more subdued rate than earlier in the year. Continued progress on the vaccination front and the subsequent reopening of communities provided optimism for sustained economic recovery. However, concerns that inflation could surge to levels serving as a barrier to a fully rehabilitated economy resulted in more modest returns this month. U.S. stocks (Russell 3000 Index) eked out a small gain of 0.5 percent.

Global financial markets generally climbed higher in the month of May, but at a more subdued rate than earlier in the year. Continued progress on the vaccination front and the subsequent reopening of communities provided optimism for sustained economic recovery. However, concerns that inflation could surge to levels serving as a barrier to a fully rehabilitated economy resulted in more modest returns this month. U.S. stocks (Russell 3000 Index) eked out a small gain of 0.5 percent.

Major capital markets around the world delivered uniformly positive results in the month of April with investors emboldened by reaffirmed commitments to accommodative stimulus and the demonstrable gains made toward wider scale vaccination. Importantly, these factors stoked tangible gains across a host of economic data, suggesting the bid to return to normal is both viable and, perhaps, imminent.

The “For the 99.5% Act” as proposed threatens many areas of estate planning, but which provisions (if any) become law will be determined in the coming months. While almost no one enjoys paying taxes, the fear of giving too much away, or worse, the loss of control, can present challenges when embarking on advance estate planning.

Positive vaccine developments and faster distribution were a tailwind for risk markets through the first quarter, particularly in the U.S. Those efforts remain a key focus as investors evaluate how further reopening measures will impact certain regions, industries and support more global growth.

The year 2020 saw stark differences in returns between fixed income categories—some of the largest in history. This unprecedented return dispersion is a reminder that fixed income asset classes can behave very differently, so allocations should be tailored to an investor’s goals.

Rising Treasury yields amid higher inflation expectations have some questioning whether the Fed should tighten policy sooner than anticipated. At its recent meeting, Federal Reserve Chairman Jerome firmly stated that the Federal Open Market Committee is not close to thinking about raising rates or tapering asset purchases.

The Treasury curve steepened during February with a sharp rise in the 10-year and 30-year yields, pushing both to pre-pandemic levels. Equities rallied during this time, notably small cap and value stocks, amid more vaccine progress and the anticipation of more stimulus.

Given bitcoin’s dramatic price changes, it is not surprising that many are speculating about its possible role in a portfolio.

Markets are forward-looking and have benefitted from the reopening optimism, but it remains to be seen how these developments will impact economic data, which is backward-looking. Conditions appear to be in place for growth-sensitive assets to continue their ascent that began a little less than a year ago.