By Philip Lawlor, managing director, Global Markets Research
Global equities posted the strongest monthly gains in years (if not decades) in April, recouping much of their pandemic-driven losses since late February. Markets rode hopes that sustained central-bank liquidity support and moves to end lockdowns in many countries could soon help kick-start economic activity - even as incoming data grew increasingly grimmer.
US stocks led the April relief rally: the Russell 1000 rose 13.2% for the month, and the US small cap Russell 2000 did even better, rising 13.7%. Both were well ahead of developed-market peers