Most major equity markets have continued to see growth over the past month with the further easing of lockdown restrictions. Following a 23% fall between February and April, UK retail sales volumes rebounded by 12% m/m in May. The commercial property sector was hit hard by a fall in rental collections in March, and the expectation is that June collections could be even lower. Occupier demand for London offices was soft, marking a rise in availability and weaker demand for space. Over £1 billion in regional assets and £2 billion in Central London was reportedly under offer in May. While this indicates that there should be a pick-up in activity, given uncertainty remains high, regional investment is not expected to recover its H1 losses over the rest of the year. Read more.