The current equity market is the thirteenth bull market for the S&P 500 since 1928. At 96 months, it is the second longest bull run over the period: the longest, from 1990 to 2000, lasted 120 months and appreciated about 425%. The current market has appreciated “only” about 250%. The bull market in bonds began in the early 1980s when ten year Treasuries were yielding close to 16% and T-Bills were paying over 20%; currently, ten year Treasuries are yielding about 2.5% and 90 day T-Bills are paying .75%. The lowest bond yield in two and a half generations was breached earlier this year at 1.4%. Are we at an inflection point? Have interest rates finally begun their long anticipated reversal? And if interest rates are beginning to rise, can the equity market possibly survive?  Click here for more…