The U.S. 10-year YIELD has violated last week's post-Fed, rate-hike low of 2.48% and looks to be heading for a confrontation with the Nov.-Mar. up trendline, now at 2.44%, which must contain downward pressure on YIELD to avert potential weakness into the area of significant multi-month support at 2.33%-2.30%.
This pressure does not bode well near-term for the ProShares UltraShort 20+ Year Treasury (NYSE:TBT) and the Financial Select Sector SPDR Fund (NYSE:XLF), to name a few.