Global equities rebounded sharply in April as risk appetite improved and markets looked past ongoing geopolitical uncertainty. The MSCI World Index rallied 9.6% in U.S. dollar terms, marking its strongest monthly gain since late 2020 and setting a fresh record high. Technology-heavy benchmarks led the gains, with U.S. and Asian markets outperforming. Global government bonds delivered mixed returns, with yields ending the month higher in several major markets as inflation concerns persisted. Global corporate bonds also posted monthly gains, supported by tighter credit spreads and improved risk sentiment.
Oil prices were volatile throughout the month, falling sharply early in April amid Middle East ceasefire optimism before rebounding later as negotiations stalled. Brent crude futures briefly topped $125 a barrel, ending the month closer to $115, while WTI ended above $105 for its fourth consecutive monthly gain. The U.S. Dollar Index weakened by nearly 2% against global currencies amid reduced safe-haven demand. Gold posted a modest monthly decline.
