Heading into the midterm elections, I thought this was an interesting analog chart. The blue line is the 10 year yield during Trump's first term midterm year, July 2018 through January 2019. The orange line is the 10 year yield now, as we head into the current midterms. What stands out to me is that the ramp higher started at about the same time in both years, in late August. If this analog holds up, we could be nearing a local top between now and October 5th. If it does, it would be worth keeping an eye on the sectors and industries that have been negatively correlated to rates. The second image shows the industries with a strong 20 day negative correlation to the 10 year yield.

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I still find this to be a WILD analog. Both of these quick moves in yields happened during a Trump midterm year. If the analog holds, that means rates should be taking a breather in October.