Five anonymised historical charts were dealt to every player. The Monkey Index returned -0.17% across the same tape.
101 desks completed all five charts.
War in Europe had filled the defence order books, but chronic supply shortages were choking aerospace deliveries. When the broader market rolled over in September, sellers were not done.
Heavy defence spending through the Iraq War had turned the big contractors into safe, cash-rich compounders. This was the quiet drift of late 2006, with the shares barely shifting as the year wound down.
The streaming boom had turned into an expensive hangover and Bob Iger had just been hauled out of retirement to steady the ship. This is the week buyers stepped in to back the turnaround.
With interest rates pinned to the floor, fund managers were crowding into defensive consumer staples for shelter and steady payouts. The quiet grind higher barely broke stride.
Supply bottlenecks and delayed hospital procedures had dragged medical device makers down all winter, leaving sentiment thoroughly washed out. This is the week the selling ran out of steam and the bounce took hold.