Trop, I think it is still early to think interest rates are going to go up, I believe we have a ways to go on that yet. Just one person's opinion of course. I think after this second leg down finishes it'll be time to start worrying about all of that, but for right now the world just can't get enough $us, even though they are printing it like crazy. It'll be its own undoing, yes, but just not yet I don't think.
Yes rates came up from the lows from the first leg bottom, but that's no surprise, the $us sold because everyone had ran to it, stocks, bonds, commodities, foreign currencies, everything gained on the $us during the "recovery" (I smile as I write the word). You can see it playing out right now, the markets took another 1000 point hit and they dumped foreign currencies, gold dropped back down near 1k$us/oz, sold stocks, bonds, everything, to buy $us and Treasuries again, and that's what I think they'll keep doing as the second leg down plays itself out.