President Donald Trump and Kim Kong Un met in Singapore. The US agreed to suspend military exercises with South Korea and to lift sanctions against North Korea provided North Korea progresses with nuclear disarmament.

The G7 summit in Canada ended in acrimony over tariffs, with Donald Trump leaving early to attend a meeting with North Korean leader Kim Jong Un in Singapore. The summit highlighted the rift between the US president and its key partners.

Global stocks were unsettled by news that Italy’s proposed coalition government appeared to have fallen apart, raising fears that new elections would turn into a referendum on Italy’s membership of the euro. While stocks fell and peripheral eurozone bonds fell, core bonds rallied. Spain’s government also fell.

US bond yields moved decisively above 3.0% for the first time in seven years, and oil prices breached $80 a barrel.

The US dollar strengthened as weak economic data in the UK and eurozone caused investors to reassess the chances of rate rises. In contrast, US inflationary pressures continued to accelerate.

Global stockmarkets were mixed as investors digested first-quarter earnings against the backdrop of the threat of trade tariffs, US sanctions against Russian groups, higher oil prices, rising bond yields and volatile foreign exchange markets.

Global stocks gained ground, while bond markets retreated amid fears the Fed would accelerate its path of interest rate increases. North Korea pledged to suspend nuclear and missile tests.

Global stockmarkets edged higher as trade tensions between the US and China appeared to ease. However, after markets closed on Friday night, the US, Britain and France launched air strikes against Syria as civilians were harmed by an alleged chemical weapon attack.

Global stockmarkets remained volatile reflecting the evolving story of the trade war between the US and China.

Global stockmarkets recovered some ground over a shortened week, although tech stocks continued to be volatile.