I don't think market is optimistic (ex. projections from pretty much every investment bankers), but instead reality is extraordinarily distorted by massive cash

I don't think market is optimistic (ex. projections from pretty much every investment bankers), but instead reality is extraordinarily distorted by massive cash infusion and govt's commitment to not let market go down at any cost. This makes asset pricing as dictated by US government as opposed to market forces (same as in countries like Russia). This is first time in history where stock price is rising literally in proportion to job loss and revenues loss!