In this case, the break is a break-out and the chart in question is the weekly US Government 10 Year Bond Yield. The Fed doesn't set rates so much as it follows the market and in this case, the open market is sending interest rates higher. This morning the 10 year yield is within ticks of a 12 month breakout in rates. Do not underestimate the potential of higher interest rates, especially now in a powerful combination with four intermediate term sell signals, the EW structure, and seasonal bias and/or crash to the downside. US 10 Year Yield - Weekly Yield on the 10 Year is up from 0.333% to 4.348% since March, 2020. In Oct, 2022 it peaked at 4.335%. A weekly close above that level would constitute a 12 month breakout, likely propelling stock indices lower and volatility much, much higher. The US 10 Year Yield Trend Model is currently on a Jun 26th Buy Signal @ 3.843%. US 10 Year - Daily Today's hi-lo range = 4.350% - 4.257% Currently @ 4.348%
