10 yr rates jumped over 3% on Friday ending the week at 2.6%. That puts September's increase up to over 12%. The gap up out of 2014's wedge points towards significant momentum behind this move.
The weekly chart adds a little perspective. Last week had a solid candle with the Indy's curling up from oversold conditions. The next significant source of resistance is at 27. A break of that would challenge the 20 history of lower and lower rates, as seen on the next chart.
Should rates break 27 the next target would be 33. The monthly indicators have a lot of work to do before they would be supportive of such a move. The RSI has some support at 50, but the other indys are still pointing south.
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