For almost 10 years, the value of the 10-yr yield in silver traveled down a narrow channel in what could very well be a managed descent. Then, in 2010, the descent became even steeper (see purple channel). Back in May, I guessed that we'd go back to the top of the purple channel, which we did, and then we went back to the lower trend line, where we are now, after overshooting for a few days. The UST10Y looks to be in a descending wedge (orange lines in lower chart), which signals a steep fall, but how much lower could it go? Anyway, it will probably make its way towards the upper orange line first. But if it doesn't, and since the silver chart looks bullish, perhaps we are entering an even steeper phase of yield worthlessness, which might begin after the thin blue line proves to be resistance. Stay tuned.