Investor sentiment and an overview of prices

What war? For investors it looks like not much out of the ordinary is going on the world. Investor sentiment has hit highest level of greed since July 2025. 

Just to put this in contrast with just 3 weeks ago, when investors were near panicking.

All of this while prices, and hence inflation, and hence risk of recession, are not necessarily calming down. 

Help. Can please someone explain this to me (asking for a friend)?

Source: CNN, Charlie Bilello