It is not that May did not have its challenges. The German bund extended flash crash had knock-on effects throughout the capital markets. The dollar, which had been trending lower since mid-March staged an impressive rally in the second half of May that completely unwound the weakness in the first half of the month, and carried it to new multi-year highs against the Japanese yen and New Zealand dollar. The polls gave no indication that the UK Conservatives would secure a majority in parliament. Despite Spain boasting of among the strongest growth in the EU, Prime Minister Rajoy's Popular Party was punished in local ... (full story)