Photograph by Migel Medina/AFP via Getty Images

As the medical community rushes to find a cure, or at least a containment, for the spreading coronavirus, financial markets figure they have been inoculated against risk by the repeated application of a tried and trusted palliative: lots of easy money.

Stocks and bonds continue to rise, just like the numbers of those afflicted by the virus, in a manner that raises suspicions about underreporting, as Lisa Beilfuss observes in this week’s Economy column. None of that matters to investors in an era of interest rates below zero, either absolutely or after taking into effect the loss

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