May 2017 - ADIFO Global Market Review

by Kevin Burrows

All major equities markets were up in May, defying the old adage to “sell in May and go away”. Global fixed income returns were also mostly positive for May, with the JPMorgan Global Aggregate gaining 1.5%. Commodities declined for the second straight month, with the exception of gold which gained a measly 0.5% as the US dollar fell. Oil was the biggest loser, dropping –2.1% and is down over –10% for the year. The dollar fell in May against most currencies with the exception of the British Pound and is down against all majors for the year.