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Russian markets had an absolutely huge May

Russian markets bounced back sharply in May, even amid ongoing clashes in neighboring Ukraine. Of course, Russia’s unilateral seizure of Crimea and continuing violence by pro-Russian separatists had first driven markets sharply lower earlier this year. May’s recovery in Russia’s Micex stock market index still leaves it down 2.6% so far in 2014.

Other big movers in global markets in May included futures contracts for “feeder cattle.” Prices for still-to-be-fattened calves have surged amid a sharp jump in beef prices—and declining corn prices, making these cows cheaper to bulk up.

Indian stock markets also surged on investor optimism tied to the election of Narendra Modi. And expectations that Chinese policymakers will move to prop up economic growth have helped China-centric indexes—such as Hong Kong’s Hang Seng—log strong gains in May.

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