A look at the Two-Year Treasury Yield chart (daily) and you can see that it is set to rise, noting the bullish divergence formation.
A view of the longer term (30 years) is interesting. Back in '82 when rates were 17%+ when they came down the market took off. Yet the past few years showed that when the UST2YR declined the $SPX did as well. Of course each period encompassed diverse reasons why rates were too high or too low. Bottom line is that we are entering a transitional period soon and in 2010 the focus will be on "interest rates"!
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