The US 10-year yield is delicately poised as we close the week just above the support level at 3.78%
This was the low posted on 27 Dec, 2023 off which we bounced up to the 76.4% retracement level (I seem to be mentioning this 76.4% move a lot recently because it has happened a lot).
This makes it a accelerative pivot If broken just like 4.12% was on the 2-year yield and 3.75% was on the 5-year yield- both of which gave way today with a dramatic acceleration lower.
The low today on the 10-year yield (So far) has been 3.787%.
A decisive break of the 3.78% level would suggest renewed losses and target a move to the pivotal level around 3.25-3.26%
Given the background to what has been happening into today as well as today's data and the break already seen on 2's and 5's I think it is only a matter of time before this level goes opening up for a further push to the downside.
So, to answer the question in the title- I think it is "Precipice"
