Word: pops
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Dates: during 2010-2019
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Meaning ... Over the past six to nine months, the 60% pop off the bottom, not just for stocks but for high-yield bonds, etc., is indicative of a return in perspective to the old normal as opposed to the new normal. We think that 2010 will be tempered, and that doesn't mean bear markets, but it does mean a growing realization that we have a lot of problems and the markets aren't necessarily priced...