BNP - Weekly Commentary: "Much Ado About Nothing"

Key takeaways
- Global yields and credit spreads remained in relatively tight ranges while global equities weakened modestly due in part to the lack of further global central bank easing.

- The theme of diminished central bank effectiveness played an important role in the Q1 volatility spike and a re-emergence of this theme would destabilize financial assets and economic activity.

- The FOMC indicated less concern about financial market volatility and weakness in global growth in this week’s statement, leaving open the possibility of a rate hike in June.