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May wasn't short of market-moving news - much of it about tariffs. In response, investor sentiment on the US economy soured - and then sweetened (somewhat) again.

The world is a very noisy place at the moment, and it’s increasingly designed to be that way. It doesn’t seem to matter where you go or what you do, someone or something is always trying to attract your attention. The proliferation of media outlets only increases the competition, potentially distracting us in the short term from longer-term goals.

Some calm has returned to markets amid a temporary truce in the tariff wars, but the clock is ticking and there is plenty of potential for further volatility. Meanwhile, things are less rosy in bond land. Still, as John notes, there is reason to relax and enjoy the bank holiday weekend.

Markets have responded positively to the truce in US trade wars with most of the rest of the world. While uncertainty remains, the path ahead is a little clearer. What’s changed, and what does it means for you?