The German Bund has broken new trend lows. Despite coming out of the descending wedge a couple weeks back the bullish setup could not produce a sustained bounce. Normally, this would not be a big deal. Just a continuation in trend. However, the reason why this is such a big deal today is that we have broken the 38% Fibonacci retracement that was forged from the 2008 lows to all time highs in 2020. The risk is that the Bund market could freely drop aggressively. However, the RSI is divergent, and on the heels the FOMC this would could influence bond yields globally, including the Bund. Will the major break hold? We should know by the end of the week.