Because investment in stocks competes with investment in government bonds. At just 1% increase in bond interest, trillions of investment dollar will flow from s

Because investment in stocks competes with investment in government bonds. At just 1% increase in bond interest, trillions of investment dollar will flow from stocks to bonds. Many people, especially retired, would prefer a safe 2% return over 7% return with occasional 50% crash (as in 2000 and 2008).