If you look at the all-time 10yr Treasury Bill it looks like we are on trend to retest an old resistance line, which is at about the 2.39% range. If it were to hit that, there would be a huge flight from equities into fixed income because then decent returns could be achieved while remaining safe.
To play this, go long SPXS . It is levered 3x to the downside for the S&P 500 ; so every percent the SPX drops, SPXS rises 3%. Maybe 1 to 3% of your portfolio since it is levered 3 times.
10YR retesting resistance
10YR could hit 2.39%; towering over the SPX's average yield of 1.5%
This is not investment advice, do your own due diligence and gauge your own risk tolerance.