Manning & Napier·2026-05-05·via All Articles on Seeking Alpha
Summary
April's economic backdrop was shaped largely by geopolitical developments, as the conflict with Iran pushed energy prices higher and complicated what had been a gradual path toward lower inflation.
While higher energy prices added inflationary pressure, underlying economic activity remained relatively resilient.
Equity markets rebounded sharply in April, with the S&P 500 posting its best monthly return since November 2020.
Fixed income markets were shaped by two opposing forces in April.
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Economic Cycle
April's economic backdrop was shaped largely by geopolitical developments, as the conflict with Iran pushed energy prices higher and complicated what had been a gradual path toward lower inflation. The move in oil was
