The present chart on the US 10-year yield is tracking very closely to that seen in March-May 2024.
I have recently shifted my bias more towards a move lower in yields in the months ahead.
So far, the price action in the US 10-year yield does not necessarily contradict that view BUT, IF we saw the 10-year yield move above 4.71% it would at a minimum a small dent in that view.
