Bleach will cause even very high grade "stainless" to rust in under 24 hours. Stainless Steel is really a misnomer- stain resistant is more realistic. If a steel has iron in it, it will eventually oxidize. To be called stainless a steel has to contain at least 13% Chromium, and that's all the name really means.
Technically you can drop down to 11% chrome and still be considered "stainless steel". The chrome on the surface of the stainless steel item reacts instantly with any oxygen present to form chrome oxide. The chrome oxide forms a protective layer over the surface of the steel which prevents oxygen from reacting with the iron to create iron oxide aka rust.
The problem with bleach (and salt water) is that it contains chloride ions. Chlorine LOVES to react with chrome, so much that it will even tear it away from oxygen. Chloride ions yank chrome from the chrome oxide, causing holes in the protective layer and prevent a new chrome oxide layer from forming. This leaves the remaining iron unprotected and easily corroded. Even weak concentrations of bleach can cause pitting in stainless steel very quickly.
-Blast