Hi Greg!
I understand nothing about market (stock, bonds, whatever) but I live in Brazil. We had here various cycles of inflation, for various reasons too. When the stock-market in U.S. is "rallying" for very long time the only thing that I see is simply inflation, as I saw lots of times here. During this cycles (here) I was working in IT, creating programs to workaround the confusion brought by inflation. People continue to live their lives using this or that approach to not be affected by that inflation. But it was not the end of the world, even with 10, 20, 30% per month! Well, you get used to it! So I hope that it doen´t happens in U.S., but something like this could be healthy to bring this mes.. well, this economic situation to a normality.