Wave 4 of the impulsive rally from 0.33% now looks complete and a clear break above resistance near 3.87% will call for wave 5 towards at least 4.87 and possibly even closer to the 5.77% target.
The coming rally in the US 10Y yield is the last in the cycle from 0.33 and should give way to a larger corrective cycle in the coming year, but it should still only prove temporary. This will indicate that the inflation isn't quite behind us yet and will likely take the equity markets by surprise too and we should expect a tough autumn for the equity markets.
