Interest rates did something for the first time in history yesterday, is that good news?

Yesterday the yield on the 10-year note, had the largest single day rise in yields in all of history. Below looks at where yields stand after yesterdays historic rally.

CLICK ON CHART TO ENLARGE

The yield on the 10-year note rose over 11% yesterday. The bottom section of the chart above reflects that yields had the biggest single day rally in history yesterday at (1).

This rally has yields now testing falling resistance at (2). While yields are testing falling resistance, bullish sentiment on TLT (bond etf) from Sentimentrader.com, reflects that few investors are now bullish bonds.