Yesterday’s Stock Market Rally In Perspective

Bloomberg: “Here’s something to ponder as you consider Friday’s roaring rebound in equities. To undo the worst stock market crash since 1987, it took the biggest rally since October 2008.”

“That’s right: The last time shares surged this much, it came smack in the middle of the worst month in 33 years, one the S&P 500 finished down 17%. So while Wall Street was naturally thrilled to finish its most volatile stretch since the financial crisis on an up note, nobody was ready to call the bottom.”

“Another thought, to leaven the ecstasy. Last time stocks rose 9% in one session then fell 9% in the next, it was 1931. Also a less-than-auspicious year.”