Technicals - US 10 year bond yields - a trend change has occurred

During last week QMG clients were alerted to the potential existing for a trend change / upside technical break in US 10 year bond yields - a close above 1.57% was required. The increase in yields on Friday night resulted in it closing at 1.59%, thereby generating an upward reversal / closing above key resistance. As a result, a trend change has now occurred in US 10 year bond yields. The expectation from a technical perspective is for a further increase to occur in bond yields. Major subsequent resistance / the minimum upside technical target is located at 1.75%.