Risky assets marginally extend their up-move in April. The S&P 500 Index rose around 1.5% in April while Bitcoin (BTC) is on track to end the month with gains of more than 4%. Could the rally continue in May or is it time for a pullback?
The recovery could face headwinds if the United States banking woes escalate further. JPMorgan (NYSE:JPM) Asset Management chief investment officer Bob Michele said in an interview with Bloomberg that the turmoil at First Republic Bank (NYSE:FRC) is unlikely to be limited to the bank only, and could cause a domino effect.