, Columnist
Don't Get Comfortable. Stocks Also Bounced in 1929
And 1987, and 2008. A bottom won’t be reached until investors lose all hope.
History’s shadow.
Photographer: Hulton Archive/Getty Images
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Markets like bouncing, and they certainly bounced Tuesday. The 10-year Treasury yield, at the time of writing, has rebounded to 0.803%, having hit a low early Monday of 0.314%. This is by far the greatest volatility the bond market has experienced since the crisis of 2008-09. U.S. stocks had their best day since 2018, after European stocks staged a 4.3% rally only to give it all up and close lower.