Interest-rates going up “for the right reason” is bullish, right?

Each time interest rates have surged up to their long-term trendline, a ‘crisis‘ has occurred…

h/t @IncomeDisparity

But this time is different right? Because rates are “going up for the right reason.”

Hhmm, the reaction in markets each time the yield on the 10-Year Treasury yield reaches its trendline is ominous…

So the question is – have interest rates ‘ever’ gone up for the right reason?

Or is this narrative just one more bullshit line from a desperate industry of asset-gatherers and commission-takers?

It does make one wonder what the relationship between US government ‘interest costs’ and global money flow really is. Does an engineered equity tumble spark safe-haven-buying and ease the pain as deficits and debt loads soar. It would certainly help as $300bn additional budget deals are passed, The Fed has left the game, and China is threatening to be a seller not a buyer…