A look at the world's bounciest stockmarkets

AMERICA'S stockmarkets may have surpassed their pre-crisis levels, but their performance has been eclipsed by a number of markets around the world over the past year (see chart). More surprisingly, some emerging market indices seemed to ignore the crisis entirely. This is odd: received wisdom suggests that all assets become correlated in a crisis of the type that began in 2007. The bounciest market of all has been Thailand's, which has returned close to 200% since January 2007.