Global risk appetite bounced back as tensions eased and strong economic data from the US fueled optimism across markets. Tech stocks and small-cap shares led the charge higher, signaling investor confidence in riskier assets. Meanwhile, bond markets stabilized after recent volatility, while precious metals—particularly gold—continued their impressive run, hitting fresh record highs. The shift reflects a classic rotation where improving macro conditions encourage capital to seek returns in growth-oriented sectors. For investors juggling portfolios, the divergence is worth watching: appetite for equities is clearly returning, yet the gold rally suggests hedging concerns haven't entirely disappeared. The mix tells you something about where smart money is positioning right now—bullish on fundamentals, but keeping safety nets in place.