Sell in May? World market themes for the week ahead

Fresh turbulence in U.S. banks and debt ceiling woes in Washington suggest recent stability in world markets will most certainly be put to the test in May.

April trade figures on Tuesday are likely to show a cooling of March’s export surge. The services component of the price data can gauge demand, but consumer and producer price data broadly paint a picture of deflation. April inflation data is out Thursday. Money markets price a more than 70% chance of the BoE raising its main rate to 4.5% on May 11 and taking it to 5% by year-end.Traders react as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange in New York City on May 3.Conventional wisdom has it that May is the ideal point to take profit on equities and lay low until later in the year.

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