Chart of the Day - Tuesday, January 7, 2025

🏆 Today's Chart of the Day was shared by @WallStWingman. 
 

• The US 10-Year Treasury Yield ($TNX) closed at an eight-month high today, reaching a potential inflection point of around 4.7%. 
   
• It peaked at 5.0% in October 2023, and 4.7% has been the ceiling ever since, with notable rejections in Nov. 2023 and April 2024. The 10-year yield could revisit 5.0% if it clears this well-defined resistance level.
   
• A breakout would likely put pressure risk assets, while another rejection would likely be positive for risk assets. 
   

The Takeaway: The 10-year Treasury Yield is testing an inflection point at 4.7%. Clearing this hurdle would open the door for a potential rally back to 5.0%.