According to Wikipedia, “The cobra effect occurs when an attempted solution to a problem makes the problem worse, as a type of unintended consequence. The term is used to illustrate the causes of incorrect stimulation in economy and politics.”

It seems as though traders and market participants are favoring the risk on asset class, even during a global pandemic which has truly been at the root of economic contractions in countries worldwide.

Since 1978 the Federal Reserve of Kansas City has been sponsoring an annual economic symposium. Central bankers and finance ministers from around the world attend the symposium to focus upon critical economic issues.