Our investment monthly for May provides detailed market analysis of equities, bonds, commodities, currencies, credit and emerging markets. In the markets section we examine the chase for returns that could see investors turn to 'catch up' ideas as sector rotation continues. Bond and credit markets are consolidating, while the USD is mixed. Some emerging markets did well as USD bond yields consolidated, but as US/China tensions may escalate, broad indices (where Chinese firms makes up 30% or more of the holdings) may lag single-country or ex-China investments. In our regular features - ESG examines lessons from the ESL story . Investing for Yield looks at bank dividends in the US, Eurozone and UK, Under the Bonnet examines the Climate Bonds Initiative and Jargon Buster explains what 'base effects' really means for inflation. To receive this and other publications regularly, please subscribe to Tricio Insights.