Interest rates are in an upward trend and expected to reach 3.75-4.00 % on the ten year treasury. However,  it does not look like it will be a direct shot to these targets. In our earlier comments we suggested a downward correction in yields will happen first. We still believe this corrective phase is in place. The last correction within the up trend channel consumed a long period of time between Jan 2017 to Oct 2017, ten months. Consequently the current correction will more than likely run longer than the current few weeks. We expect yields to remain under the recent high of 3.10% and fall back to the up trend line at 2.75%