I work for a very large (top tier) bank here in the United States and our Bank Economist is a former Fed Reserve Board Member.
His commentary last week indicated banks will indeed start selling off Treasuries which will cause interest rates to rise.
Inflationary pressures will cause housing prices to fall (as they always do when interest rates rise) and impact the Stock Market. If we look at the short number of days it took the market to go from 32,000 to over 33,000 my own opinion is the Stock Market is over-heated and due for a correction. How big that correction is will be based on how quickly Treasuries are sold off (and interest rates rise.)
Then again, I'm no economist and I've only experience to tell me the above. We do live in "interesting" times though so I may be wrong of course.
I agree with your experience and and your bank economist’s perspective.
But the priority real big picture economic problem is the currency instability. Trump had a plan for that and it was brilliant, it was America-first, it was tied to America’s surging energy independence which we see the Left is now moving to cripple.