Long-term interest rate and stock market correlation What correlation is there between (1) long-term interest rates and (2) the stock market valuation? Please provide a simple intuitive explanation. 

For example, as I understand it from recent news reports, rising long-term interest rates put pressure on the stock market. Why?
Many organisations borrow money to purchase shares (trading on margin). Their enthusiasm for doing this will depend on the interest rate. So lower interest rates means more borrowing for purchasing shares, which means prices rise.

A similar thing happens with other stuff that people tend to buy with borrowed money - like housing.