Bond market participants see the Fed raising the Fed Funds rate to as much as 4.50% from the current 3%. Equity market participants seem somewhat concerned about this leading to a recession and are selling equities despite positive earnings, strong employment and a history of strong stock price growth in a rising interest rate environment. Why would equity investors sell in this environment? Describe the arguments on each side for selling now or holding based on the yield curve and bond market view of Fed action. What action from the Fed and or bond market would get investors to feel more comfortable holding equities?