Not really no, which is why we have the whole correlation != causation thing. The number of people who drowned in a swimming pool perfectly correlates with power generated by US nuclear plants over 10 years. [1] There's obviously no causative relationship. The same is true here - you need a model to adequately explain otherwise you're just intuiting, and intuition is frequently wrong.
> Are you talking about monthly? Maybe... The other thing about those times is we didn't have an unprecedented decline in commercial activity. How could businesses shut down indefinitely and a global pandemic looming over the world and the natural market response be "bullish for business!". Come on...
Again, much of the market performance is in big tech which has done extremely well over the last two years. Google is just one example. Look at the top NASDAQ and S&P holdings and you'll see the same thing. The market isn't the economy.
> Yes, they're invested in fixed income who yield < 2% and will likely drop a lot in dollar terms once rates ramp up.
Doesn't when they entered the market, and their allocation, mean a whole lot more?
