One Can Hope Deutsche Bank’s Jim Reid, meanwhile, found that the five worst H1 performances for the U.S. S&P 500 before this year’s near 20 per cent slump had all been followed by big bounces.
“In order of H1 declines, we saw 1) 1932: H1 -45 per cent, H2 +56 per cent, 2) 1962: H1 -22 per cent, H2 +17 per cent, 3) 1970: H1 -19 per cent, H2 +29 per cent, 4) 1940: H1 -17 per cent, H2 +10 per cent, 5) 1939: H1 -15 per cent, H2 +18 per cent,” Reid said.