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Ten-year notes breaking down

Fixed income markets are weak today and this has had the important effect of pushing ten-year US Treasury notes through the recent daily-scale compressions. Both prices and yields (which are inversely related) have been compressed in the last few days as we wrote yesterday and both  are now breaking:

This is a signal to sell (or stay) short as fresh trends begin in these circumstances. You may want to wait until nearer the close to be certain that this break will remain ‘valid’ but it looks convincing already. We would act now and it looks as though all instruments will be affected from the 5-year through the 30-year.