Stocks Panic-Bid To Record Highs Amid Liquidity-Fueled “Stark Reality” Divergence Between Markets & Real World

Stocks Panic-Bid To Record Highs Amid Liquidity-Fueled “Stark Reality” Divergence Between Markets & Real World

Authored by Richard Breslow via Bloomberg,

Traders are doing their best to pretend they have a serious handle on how the coronavirus tragedy will play out. They’re racing back and forth anticipating the effects on the global economy, asset prices and central bank policy. It makes for active trading. But at this point, if anyone is making longer-term investing decisions based on the narrative of the day, they are flipping a coin. Even though they would beg to differ.