Practically everything rose this week, with traders crawling out from seven weeks of wreckage. From speculative flyers to the bluest chips, across junk and corporate bonds to Treasuries and commodities, the path of least resistance was, for once, up.
Climbing more than 6% over five days and 9% from last Friday’s low, the S&P 500 snapped the longest streak of weekly drops in a decade, notching its best rally since 2020. Returns outside equities were smaller, though the positive tone prevailed. Nearly every major asset rose, a feat not seen since December. Only the dollar and crypto declined.