US 10 year Notes

Bond yields are still rising, meaning bond prices are still falling despite the extreme bearish sentiment. The only reason could be that wave V of 1 is developing into an ending diagonal pattern as shown on the chart below. But this should be the late stages of a decline that is about to reverse into a wave 2 pullback soon. In the meantime, the decline is causing a scare for equity markets especially EMs with high debt.