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The absurdity of our modern markets in a nutshell: the only thing that matters is the Fed.

"Largest miss of jobs numbers in history" = "Stocks hit new highs as traders expect long term low interest rates"

"Largest increase in inflation in many years" = "Stocks sink as traders fear Fed tightening"

Things are so bonkers now that bad news about the economy pushes stocks up, rather than down, because it means the money printing will continue.

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Well, this is sort of what the fed is trying to get away from because it is mostly true when inflation is too low and interest rates are stuck at zero which causes gridlocks in the private markets. In the current situation, signs of these gridlocks worsening or improving cause large swings.

Once inflation is high enough that we can get away from the zero lower bound, government paper becomes less of a desirable asset and stops being hoarded and displacing and blocking investment in the private markets. It's a return to markets having room to breath instead of being dominated by monetary actions.

As long as it doesn't go too far the other way...

Except now the US gov't has so much debt, it can't afford to ever get back to normal

And US corporations too.

That’s just the media trying to explain stock movements. Doesn’t mean they are right.

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