Traders Are Overlooking The Contractionist Impact Of Rising Rates

I think traders are overlooking the contractionist impact of rising interest rates. Not necessarily just the interest rate increases by the Federal Reserve but look at what is happening to the long end of the bond market since Trump was elected. Even though there was a big reaction in the stock market at the end of last year, so far in 2017, the Dow Jones Industrials Average (DJIA) is not making much in the way of gains. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY))