The end game is inflation, but the path is unclear.

Currently, I think we are in the final stages of this corrective phase. The yield objective is based on the Fibonacci retracements from the second wave, expressly, by the 0.382 to the 0.618 levels.

Detailed decomposition of the current correction in the following picture:


If this labeling is correct, inflation expectations may increase during the rest of the year. Although the title of the publication says long on TNX, the reality is that bonds will lower their prices. Therefore, investors and traders may add risk to their portfolios to hedge their purchasing power (e.g., gold, financial stocks, value-based ETFs, Bitcoin, etc.). Analogous the analysis for yields going down (Government Bonds, Investment-grade corporate bonds, etc.).