Markets surged higher, climbing for the third week in a row, amid signs that the US economy is recovering faster than many had expected from the impact of the coronavirus. The MSCI AC World posted a 5.3% return bringing the YTD return to -2.9% following an unexpectedly strong US jobs report. The S&P 500 is now up 43% from recent lows in late March and just 6% shy of its record high reached in mid-February.

While the tech-heavy Nasdaq hit an intraday all-time high last week, last week’s rally was led by value-oriented and cyclical stocks which have trailed growth stocks for much of this year. CLICK HERE