We are nearing potential resistance on the 10-yr: the .886 of the drop from May to September, 2013.
The big picture…
An intra-day reversal at 126’310ish could be beneficial to stocks.
From a yield perspective, we popped through a channel midline and an .886. It could be an aberration occasioned by the FOMC algo bonanza yesterday.
But, if TPTB somehow loses their grip, it fits with the much lower potential.