Interest rates set by the world are actually falling, in the face of Fed raising them!
This chart looks at interest rate yields over the past 6-weeks, which reflects they are actually declining quite quickly.
The yield on the 2-year note has declined 10% and yields on the 2 & 5-year notes have declined over 14%. While this decline in rates has taken place, the S&P 500 has declined 10%.
Joe Friday shared that in 2000 & 2007, falling rates were bad for stocks. See Post here