Long – Term Yields Near Major Double Top

On 05/15/26 the prices of U.S. Treasury – notes and thirty-year bonds declined.    

When bond/note prices fall, bond/note yields rise.

The U.S. Treasury 30- year bond yields (TYX) are leading the way higher.

The weekly TYX chart courtesy of Trading View illustrates the long – term view.

This is an update to the chart shown in the 04/26/26 blog “The Case for Higher U.S. Interest Rates – Part Two”.  At the time it appeared the presumed Intermediate wave ( E ) could still be developing.   There’s a high probability that Intermediate wave ( E ) terminated on 04/08/26.  If so, it’s the end point of a multi – year Elliott wave – Horizontal Triangle. 

After conclusion of these structures there’s usually a thrust in the direction of the main trend.  The main trend for TYX since its major bottom in March 2020 has been up.

A move above the multi – year top at 5.15 could trigger at least a multi – week rally.  Weekly RSI is below its overbought zone and implies more upside action.   

A rise in U.S. interest rates/yields could have an adverse effect on the U.S. economy and stock market.