– Global equities rallied, led by international stocks. Commodity prices declined as crude oil fell to four-year lows.
– There was a broad rally, with growth and momentum stocks outperforming. Energy was the only sector to decline last week.
– International stocks outperformed, and all major global regions are ahead of U.S. stocks year-to-date.
– Weak economic growth and inflation headlines pushed Treasury yields modestly higher. Crude oil prices fell below $60 per barrel for the first time since 2021.

– Global risk assets advanced, with the exception of commodities, which were pulled lower by falling crude oil prices.
– The worst-performing year-to-date sectors rebounded the most last week. Consumer Staples, 2025’s best performer, was the only declining sector.
– There was a broad rally internationally, with 41 of 45 countries advancing. European stocks continue to outperform.
– Treasury yields fell modestly, and the dollar stabilized as the Trump administration softened its tone on tariffs.