The global stock market capitalization has increased by $3 trillion recently, while the global bond market value declined by roughly the same amount.There are three macro trades over here. one.. bond to Equity second…. EM (bond & Equity) to DM Equity and third…. Rise in Dollar Index.This move since Trump win is what a trailor looks like in a long movie ,The markets are indeed forward-looking, but this latest leg of the risk rally has a certain speculative feel to it and I must admit this move ( strength in US Dollar) and sell off in Bonds are overextended in short term.