Global institutional investors overall are growing more confident, with the State Street Investor Confidence Index rising in May from lows hit earlier in the year. But, according to State Street Global Markets, North American investors are showing greater confidence than their counterparts in Europe and Asia. The May Index rose from 83 in April to 85.9. Regionally, however, North America jumped from 93.1 to 98.8, while European investor confidence fell from 96.4 to 91.9 and Asia dropped from 78.5 to 76.1. State Street’s Paul O’Donnell explains, “European investors, who have been ebullient this year, showed a tendency toward consolidation this month. Asian investors continued to display a diminished appetite for risky assets, as yield differentials continue to improve the relative attractiveness of cash.” North American institutional investors, O’Donnell notes, saw improvement in confidence that began in March.