You may have missed the chance if you blinked, but US equity traders were this week rejoicing in the huge intraday gains in leading financial stocks. They were celebrating the coordinated action by global central banks to ease dollar funding costs.

Banks and insurers led the gains of financial stocks. Morgan Stanley leapt by 11.1%, followed by Citigroup on 8.9% and JP Morgan 8.4%. Goldman Sachs was up 7.9%. Insurers also performed well, with US giant MetLife up 8.9%.