The markets, though, did experience minor swings on some political risks, including Republican’s narrow victory in voting to repeal Obamacare, which headed toward the Senate where further debate was expected.
Markets also continued to maintain their risk-on sentiment after pro-euro centrist Emmanual Macron won the French elections.
However, in mid-May, U.S. equities plunged almost 2% in one of their largest daily declines since before the U.S. elections after the New York Times reported that President Donald Trump asked former FBI-head James Comey to drop an investigation into the former national security advisor Michael Flynn.
Markets were selling off on prospects that the political drama would distract Congress from the pro-growth agenda that the Trump administration has been pushing forward, which has been fueling the post-election rally in U.S. equities.
Nevertheless, the markets pared the losses from the momentary political concerns and continued to push toward new record highs as traders focused on the improving economic outlook.
The markets, though, did slightly fall off in listless trading toward the end of the month but still managed to produce a positive gain over May despite the fall-off over the last couple of days of trading.
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