GLOBAL MARKETS CALL: Bond Yields Ease

Bond yields eased in most major markets last week, but France was the glaring exception. In stocks, the global AI selloff kept hitting the equities markets that had gained the most this year, putting the US back ahead of the All Country World ex-US ytd. That supports our downgrade last week of Go Global to market weight, though the fundamental case for overseas stocks remains strong. Here's more:

I. Global Bonds