Equities saw a strong rally after U.S. July inflation data was released mid-week, which was below estimated and showed inflation slowing. Investor sentiment was bolstered by the possibility that the Federal Reserve may be more dovish than previously anticipated.
Yields remained relatively unchanged but were volatile over the week. U.S. high yield spreads continued their trend of strong tightening.
Oil rallied after the International Energy Agency raised its demand forecast. Copper rallied alongside the peaking inflation narrative and a more favourable assessment of the outlook for global growth.