IMO the chance of the FED lowering rates within the next 12...

IMO the chance of the FED lowering rates within the next 12 months is nil. The markets and the public have already been made aware of their views. The various governers and the head honcho would have egg on their faces and egos would not allow this. Best we could hope for is a slowing of the pace for rises.
It has been said as a " truism " that increasing T bond yields and US equities strength will generally have an inverse relationship, and the logic makes complete sense. 
However when the T bond yield and S&P 500 are both falling it is market forces at work, as it shows a significant flight to safety from instos that are transacting positions in the $ hundreds of millions. That to me is an early harbinger of a bear market in the early stages in stocks. If I was sitting on a heap of cash, it would remain sitting for a while longer, as I am fairly confident that the bottom is still a fair way off.