The biggest threat to the worlds economy is not growth or high oil prices but rising interest rates. And now the charts are clear. Watch up.

Interest rates reached a peak in the 1980,s above 20 percent and now 30 years later we have had the bottom for the 10 year treasury note yield at 1.676 percent. The technical picture is now clear. We have had the first wave on upside reaching 2.40 and now the second wave which always is down looks to very soon find support in the 2.16 area. Technically the monthly trend is on its way to turn up, the weekly trend is up and I am just waiting for a final upside signal from the daily and hourly charts. I do not expect anything to happen before Easter but immediately after I advice everyone to closely watch the charts, it can take some time so be patient.

A daily close above 2.46 signals that a very long trend on upside has started.This trend up can be very slow in the beginning with a strong resistance in 2.60 area. The important thing is that it has started. Compare the German Schatz futures chart that is the German bond prices, not the yield which move in the opposite direction. The big picture of interest rates in the US and Germany use to move in the same big pattern.