NEW YORK ( TheStreet) - Ten-year Treasury yields broke out to the upside this week, which has major implications for asset classes across the globe, especially for real estate investment trusts and assets in emerging markets.Rising yields diminish the value of current outstanding debt. As benchmark yields rise, assets that track the risk-free rate are inflated and their underlying price falls in nominal value. The chart below is an index tracking the 10-year Treasury rate. The price action formed an ascending triangle pattern with strong overhead resistance. As uncertainty lingered over the future of U.S. monetary policy, the price traded in an increasingly tighter range.