Just as interest rates are pulling back, one particular government rate appears to be nearing an important moment.The 10-Year German Bond yield.Above is a long-term “monthly” chart of the 10-year German Bond Yield. As you may recall, this bond was the only bond of the G8 countries to yield a -1% yield at the 2020 lows. Yikes!Currently, this yield has reversed lower from the topside of falling channel resistance (marked by each 1).The decline currently has German bond yields trading into a very important support area that global investors may want to watch closely: the 23% Fibonacci support level at (2).What the German Bond does at (2) will very likely send a message globally about the direction of interest rates! 
More By This Author:Are Junk Bonds Starting To Weaken? Stock Bulls Hope Not
Are Small Cap Investors Getting Greedy At Important Resistance?
Gold Indicator Testing Important Bullish Breakout Level
