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Global financial markets declined through mid-April as economic data showed continued inflationary pressure, and investors positioned for interest rates to remain higher throughout 2024. Global equity markets declined on the reduced expectation for interest rate cuts, with small caps, Energy, and Financials leading sector declines; Spain, Switzerland, and Korea led regional declines as the UK posted a narrow gain. Interest rates increased as economic data showed persistent inflation, while the US Dollar gained against most currencies. Silver and Copper led Metal commodity gains, Oil led Energy commodity gains, and Coffee, Rice, and Cocoa led Agricultural commodity gains.

The HFRI-I Liquid Alternative UCITS Index declined -0.50% through mid-April.

Comments reference performance figures as of April 15th, 2024.