This report recaps the state of the local and global markets at month end, including the following:

• Graphs, tables and commentary on the equity, bond, and currency markets
• Information on Solvency II discount rates for the pound and euro, along with swap credit risk adjustment
• Fundamental spreads for financial and non-financial
• Update on U.K. inflation and year-over-year growth in domestic product
• Recap of volatility and hedging costs