The rise in interest rates has been meteoric, with mortgage rates reaching levels not seen in nearly 2 decades.

The 10-year US treasury bond yield is highly watched as a leading indicator and that yield has risen from near 0 (Covid) to well over 4 percent recently.

Is this historic rise in interest rates enough? Given how sensitive the stock market has been to this rise, investors sure hope so!

Today’s chart takes a look at the 10-Year treasury bond yield on a long-term “monthly” timeline. As you can see, rates have spiked. In fact, using the 30-month ROC (rate of change), yields are up 555% (over 5x bigger than any time in yield history).

10-year yields are also testing a long-term downtrend channel that may serve as resistance.

So yields are overheated and testing strong resistance. Will this cool off interest rates? Have bond yields risen enough?

(Click on image to enlarge)

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