Hard for Markets to Fight Macro Data Momentum, JPM’s Normand Says

The video discusses the current market focus, highlighting the risks of over-optimism due to high stock prices and tight credit spreads. It emphasizes the potential stalling of the market rally due to Congress's slow stimulus decisions. Despite these risks, the market remains elevated due to strong macro momentum. The video also analyzes Treasury yields, predicting a slight increase due to inflation recovery, but notes that high unemployment and monetary policies will keep rates low.

What is the general focus of the markets as discussed in the text?

What does the speaker suggest about the impact of monetary stimulus on inflation rates?