S&P 500 · April 29, 2011
The rise the second round of QE bought
+33.35%
trough back to the old high
208 trading days · 2010-07-02 → 2011-04-29
this undid the slide that began 2008-06-05
What happened that day?
- From the low on 2 July 2010 to the high on 29 April 2011, the S&P 500 rose 33.35% over 208 trading days
- That August the Fed chair said more bond buying was possible if needed, and it began in November
- The problem was that prices were not rising enough. If prices keep falling, people delay buying and the economy weakens further
- Buying bonds pushes that money into other assets. Shares and commodities rose together
- This rise came less from a better economy than from more money
- It was cut short by Japan's earthquake and the second wave of Europe's crisis
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.