That logic doesn't hold. Look at the relationship between bonds and equities. You're saying that in "1) futures on bonds will fall.." which will cause "2) equities to rise" - well, historically yields have moved inversely to stocks but that hasnt always been the case - see http://www.marketwatch.com/story/the-disconnect-between-stoc...

All else being equal, rates going up will increase the value of the US dollar. If most US companies derive a majority of their revenue overseas, will that be good for US equities? And that's just one consideration. Point is,from a trading perspective, it's generally not helpful to make blanket assumptions as the market can stay irrational far longer than most think.