as for historical comparison, market tends to rise, as bond yields rise with it as a easing cycle gets underway.
eventually bond yields rise to a point that a competition occurs for moneyflows. With 4.6% on the 30 year. This buys significant amount of time for equities on a longer term timescale to move up.
usually around 8% on the 30 year, people start reassessing moneyflow ratios between credit/equities.