Interest rates on good debt are still pretty low, and the rise that has happened has mostly been due to general good conditions. Will that change?  Lower rated debt, BBB or worse, is up to $5 trillion, about 2/3 of corporate debt, and facing higher rates. Good thing about that is that from the issuers side the rates only affect new issues - if their bond price falls in the secondary market, what the heck, maybe a chance to retire some. 

When the new issues come out and have to pay 7%? Or there are a few major defaults? Nothing like a bit of debt panic to torpedo a market quickly.
https://www.bloomberg.com/view/articles/2018-07-10/corporate-bonds-are-getting-junkier

Interest rates will probably go to 7% over the next 3 years.  Trump is stimulating the economy, so consumers feel optimistic.  We are seeing numbers we haven't seen in decades.  Eventually we will have a 30% + correction in the markets, but I don't see it for awhile.  Bask in the improvement that Trump has brought to America, so far at least. When I first started following the markets, interest rates were in the mid teens, we didn't have a depression because if it.