system
A chat on subreddit /r/wallstreetbets
human
Markets have been divorced from reality, since around 2010-11. Only thing that matters is, how long the Feds will fund the debauchery - the indicator for that keeps on changing as well. In 2016-18, it was the "taper tantrum" that was a gauge, even if corporate debt was already ATH. Then, or in addition to QE, was the asset purchase and overnight funding. Then it was Fiscal+Monetary policy easing money supply in middle of pandemic.

Now, it's only about the Fed's increasing the rate by 75 bps vs 50 bps. Markets don't wanna stop.
gpt
Someone has been reading too much Zero Hedge.