Five anonymised historical charts were dealt to every player. The Monkey Index returned -0.06% across the same tape.
41 desks completed all five charts.
Fears of a double-dip recession and the US credit downgrade rattled the wider market through the late summer of 2011, pushing cash-strapped shoppers and nervous money straight into discount chains. Dollar General rode that defensive trade to fresh highs while most of the index was still trying to find a floor.
With the financial crisis calming down and Washington threatening strict new rules on derivatives, traders worried the boom in futures volumes at CME Group had peaked with the panic. Instead, the push toward regulated clearing ended up cementing the exchange's grip on the market.
Higher-for-longer interest rates had property stocks pinned down all spring, though America's biggest mall landlord was proving that shoppers still showed up in person for top-tier retail. The rate-cut relief that landlords were waiting on would have to wait a little longer.
With US interest rates pinned at zero and the post-2008 housing market finally thawing, investors were piling into dividend-paying real estate trusts like Public Storage for steady income. That springtime bid carried straight through the week, just before the summer's taper tantrum rattled the entire rate-sensitive trade.
Unlimited data plans were back in fashion across the big US mobile networks in early 2017, turning cell tower landlords like American Tower into steady winners as carriers scrambled to add capacity. After a relentless spring climb, the rally simply paused to catch its breath at the top of the range.