The play since Jan 1st 2012 was to buy large cap dividend stocks, this play had no competition, well now that the 30 yr and 10 yr has jumped higher, dividends are real competition for yield.
If the jump in interest rates continue with its cycle then this will support the US dollar, and bearish for all anti dollar trades (gold, silver, Aussie, and Euro).
The best explanation for the jump is this post by Bruce Krasting : Is the Ten-Year going to 3%?
The US showing inflation ripples, the interest rate jump will take the fun out of stocks.
The 30 yr chart with cycle