And so we have a clear break out of the SG10Y again. And based on previous inverse co-relationship, the US equities should be retracing in a down cycle. The thing is that for now, at least in the short interim, the US equities appear bullish and is likely to stretch further upwards.
This co-relationship is either being tested or has been broken. For now, the opinion is with the former... and it might be telling of the incoming magnitude when the equities flip back down - hard(er).