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S&P 500 has has a good month, up 7% in the past 30 days! Wow!
Can you believe that the yield on the 10-year note has jumped up at the same time? How about twice as much! Yep, the yield on the 10-year note is up over 15% in the past 30-days!
The yield remains inside of a clean falling channel. If the yield on the 10-year note would break out of this channel to the upside, the 15% rally over the past 30 days will seem small.
Bond bulls DO NOT want to see the yields breakout here!