Financial markets in a state of confusion

Bonds are the traditional safe-haven asset, popular in a risk-off market. Shares are the popular risk-on asset, rising in times of market confidence. This is the basis for traditional diversification, and the principal underpins one of the central theories in finance. So why are bonds and shares rallying simultaneously? Both US 10-year Treasuries and the S&P 500 are at all-time highs. Likewise, the AUD (often seen as a risk-on currency) has rallied against the USD since January, while gold, the ultimate safe-haven, has rallied from under $1,100 to over $1,350 in the last six months. Anecdotally, there also seems to be increased capital flowing through private investments, with Australia VC funds raising at least $1.1b in new funds in the last 12 months. Could central bank policies be pushing all assets up, regardless of risk level? Let us know your thoughts in the comments - where (if anywhere) are you seeing value?