The prior 3 non-recession market crashes of 20% in under 4 months since 1950 saw the following:

1987: +18,8% in 13 days

1998: +13.4% in 15 days

2011: +11.6% in 17 days

Current: +9% in 7 days

source of data: Bloomberg

Please see our January Macro Slide Deck to see the charts and our 2019 playbook.




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