Hmm 1950s Style Market? Stephen Suttmeier of Bank of America Merrill Lynch Thinks So

I would love for this to be true.

Suttmeier points out that much like today, rising bond yields also corresponded to a surge in equities in the 1950s. By the time bond yields moved to 5 or 6 percent in the 1960s, the S&P 500 had rallied about 460 percent over the decade or so.

"That bull run into the mid-1960s was actually an S&P secular bull trend that was associated with a low and rising interest rate environment," Suttmeier said. "That is how we're set up right here. "

Money is certainly going to move out of bonds and into stocks as we continue to go higher.