Equity markets extended their rally in May. Not only did the old market saying (which, by the way, is a little simplistic and rather poorly backed) “sell in May and go away” not prove true, but equities gained 1.9% (MSCI AC World index in US dollars) over the month of May.
Emerging equities continued to outperform developed markets (with a 2.8% gain for the MSCI Emerging in US dollars), driven by strength in Asian markets.
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