Why are the markets seemingly so sanguine?

The S&P 500 index of shares reached an all time high last week, as did the Nasdaq and the Dow Jones is hovering near its record as well. All this at a time of the biggest energy supply interruption in history which could in theory push Europe, Asia and much of the world, which depends on oil imports, into recession. So why are the markets seemingly so sanguine?  David Roche runs Quantum Strategies and is based in Singapore and joined Joe Lynam on the show this morning.