What Happened When the Market Was Back at All Time His?

The market is back at all time hies. What happened here? Like, what was the switch? Cause rates, people were pointing rates for girl stocks, and rates didn't really even rise that much. I look today, the 30 year treasury is basely where started the year at. Is it as simple as inflation? Is that an easier explanation? The mosaic theory of it is, like rates were a part of it, rits and rates did increase, and this or change fom of the mathematics. Afd, hirn of value of these stocks.