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We Always Feel The Worst Just Before It Gets Better
November 24, 2008
(Source JPMorgan)
In the above chart you will see that there have been 19 times in recent history where we've had a single report show more than a 0.5% increase in the unemployment rate. The subsequent 12 month returns in the stock market are amazing - ranging from 17.6% to 45%.
Notice the similar trend with consumer sentiment.