TNX - 10 year treasury rate update (and implications on M+M and the broader stock market)

In this post I kicked off a new thread on the 10 year treasury rate which I think is of primary importance given my overarching theme that the US is running a global debt Ponzi.  After all, unless rates are low, the debt which is the engine of the Ponzi gets too expensive and therefore must be curtailed.  As in Peak Credit.  As in the Ponzi enters a collapse phase.

Below is the chart update which is basically a zoom in of the last chart with labels.  It seems like wave 1 of 3 is done and now we will likely go fill the 3rd wave gap of wave 1.  Once that bottom is in, I expect a strong bounce upwards which will certainly scare the leveraged longs because it will affect their future borrowing costs.  It might also be the catalyst for M+M to take off into its 3rd wave up because rising interest rates are associated with inflation.  Gold is of course the ultimate inflation hedge.