Global equity indices rose for the second consecutive week amid signs of de-escalation and ongoing peace talks. On the data front, the March consumer price index (CPI) was released in the US. On a month-on-month basis, prices increased by 0.9% – their largest increase since 2022 – while the year-on-year figure reached 3.3%. Unsurprisingly, the acceleration was almost entirely attributed to rising energy costs, with evidence of spillover into the core goods and services components yet to materialise. The Fed’s preferred measure of inflation – the core personal consumption expenditures (PCE) index – was also published. The February figures were captured prior to the conflict but showed a deceleration in the pace of…