The near 40-year trendline will almost certainly have to end in the next few years US 10Y

 “Clearly such a channel can’t go on forever unless you’re of the opinion that we will consistently see negative nominal US yields in the latter part of this decade,” Jim Reid, head of thematic research at Deutsche Bank, said  

If the post-Global Financial Crisis cycle “could be erased from people’s memory banks,” then markets might be pricing 300 to 400 basis points of hikes this year rather than around 240 basis points now priced in, Reid wrote in his note highlighting the chart.

That’s “given just how far the Fed is behind the curve.”

MarketWatch 28 March 2022

https://www.marketwatch.com/story/the-dam-finally-broke-10-year-treasury-yields-spike-to-breach-top-of-downward-trend-channel-seen-since-mid-1980s-says-deutsche-bank-11648492268

Government bonds on track for worst year since the Marshall Plan was enacted

Market Watch 25 March 2022

https://www.marketwatch.com/story/government-bonds-on-track-for-worst-year-since-the-marshall-plan-was-enacted-11648207437