As the U.S. 10-year Treasury yield rose to its highest level in more than three years on Friday, most people were focused on the 2.6 percent level, or its highs during both 2016 and 2017. On a technical basis, a move above that level would give it a key "higher high."
However, investors should consider that this level carries importance on a much longer-term basis.
A move above 2.6 percent would also take the 10-year Treasury yield above its trend-line going all the way back to the mid-1980s. Therefore, since there is no real significant resistance above 2.6 percent until you get to 3 percent, any breakout in rates could lead to a quick spike higher. Such a move would have implications for the broader marketplace.