That logic doesn't hold. Look at the relationship between bonds and equities. You're saying that in "1) futures on bonds will fall.." which will cause "2) equit

That logic doesn't hold. Look at the relationship between bonds and equities. You're saying that in "1) futures on bonds will fall.." which will cause "2) equities to rise" - well, historically yields have moved inversely to stocks but that hasnt always been the case - see http://www.marketwatch.com/story/the-disconnect-between-stocks-and-bonds-in-one-chart-2017-02-27 http://www.marketwatch.com/story/the-disconnect-between-stoc... All else being equal, rates going up will increase the value of the US dollar. If most US companies derive a majority of their revenue overseas, will that be good for US equities? And that's just one consideration. Point is,from a trading perspective, it's generally not helpful to make blanket assumptions as the market can stay irrational far longer than most think.