If six months ago someone had told me that $TLT would be close to breaking $80 I would have predict $SPY somewhere in the mid-600's (and that is being generous)

If six months ago someone had told me that $TLT would be close to breaking $80 I would have predict $SPY somewhere in the mid-600's (and that is being generous) - the current rates and current equity valuations do not add up - something has to give