Momentum Global says global equities gain 5% in May as IPO boom lifts risk appetite
SPY•Bonds lag despite lower oil
Bonds lagged despite lower oil. US Treasuries returned 0.1% in May, while US high yield gained 0.5%.
Strategy focus shifted to broader equity diversification, with a warning that narrow leadership could amplify volatility while Treasuries carry higher idiosyncratic risk.
Risk appetite rises as IPOs and chip stocks drive markets
Momentum Global flagged a risk-on surge in May 2026, citing IPO momentum and heavy demand for chip-related equities.
- Global equities rose 5%.
- The Nasdaq gained 8.4%.
- MSCI Emerging Markets advanced 9.7%, led by Korea’s Kospi, which was up 23%.
- Brent crude fell 19.3% in May as expectations around a Hormuz deal shifted, easing inflation pressure and supporting risk assets.
