European equity markets continued to strengthen in April as central banks kept interest rates unchanged. Global equity markets also posted positive returns in April. UK government bonds underperformed their global counterparts as they remained flat in April. Solvency II GBP risk free rates increased in April across all terms. CPI inflation did not change in March and remained at 1.9%. Volatility decreased during April across all developed markets. The realised volatility dropped below 10% for US, European and UK markets with all of them posting a volatility of around 6%.