The very first thing that I want to point out is, this is a weekly chart. That means, it may not be trade-able. But you can always use it for portfolio management and adjustment.
Note that the 10 years is the most important instrument in the world as it is the risk-free rate used by many major funds. Thus it has major implications to other asset classes including equities, forex and precious metals just to name a few. In fact, I wouldn't be surprised if all asset classes are affected by it (but I don't trade them long enough to be sure).
Anyhow, according to my Elliott Waves analysis, I believe that the yield is coming to continue going up (drop in price) with the short-term (in weekly sense) as shown on the horizontal line. Then it should bounce a bit to form a corrective structure before continuing down in terms of price (up in yield).
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I have some misgivings regarding this idea given that this is not in sync with my other ideas - theoretically. What this means is that the 5th wave may be truncated. I will have to wait and see how things unfolds.