US Treasury yields continue to break higher - is 6% now in play?

The selloff in the bond market isn't showing much sign of letting up. 10-year Treasury yields have pushed up to 5.18%, extending the breakout above 5% and putting another important technical area firmly into view. The next major hurdle on the chart sits around the 5.25% to 5.30% region, roughly where yields topped out during 2006-07. So, what's next from here? Well, if the 2006-07 highs give way, I reckon the conversation around 6% Treasury yields will then start becoming a lot less theoretical.