A bit more about markets versus the real economy. I'm a bit disappointed that so many people — including financial reporters! — still assume that the stock market is telling us something about real economic prospects 1/ nytimes.com/2020/04/30/opi…
The crash and partial recovery of stocks this year had little to do with the economic news, which has pretty much gotten steadily worse; no, stock investors aren't betting on a V-shaped recovery 2/ 
Instead, it was all about the emergence and then containment of a potential financial crisis, as documented in this excellent St. Louis Fed resource 3/ research.stlouisfed.org/resources/covi…
