10-year Treasury Note Yield Jumps

following the auction today.

This is an intraday chart of TNX, 10-year Treasury note yield. Almost picture-perfect pennant formation after the auction result was announced (at 1:00pm EST), and a break to the upside.

For more on the auction, please visit my other blog.

30-Year Treasury Intraday Chart

Apparently, Rick Santelli of CNBC remarked "Put a tail on it and call it Lassie" right after the auction result was in. Since then, the tail has gotten longer, flowing in the wind.