More mixed data across the globe last week with US PMIs at loggerheads over whether the economy is reflating or stagflating. European inflation ticked up but so did confidence. Chinese stocks edged up on a quiet holiday session ignoring mixed PMIs. Indian inflation dropped but low base effects will likely start to hit later in the year. • Global equities experienced a strong week and US Treasury yields fell. Oil retreated; copper strength continued; Bitcoin saw its strongest week since November 2024. Gold rose further and may still test the US$4,000 level but signs of potential technical exhaustion appeared. • No ... (full story)