Each time that the cost of money increments, the bubble of the moment pops.
If you check carefully, the parallel channel's upper bands (yellow ones) play the trend resistance role. If those bands are touched, I can reasonably assure that the FED will intervene in the bond market with Yield Curve Control (you don't want to have the biggest economy of the world be insolvent). The intensity of their intervention will depend on the slope of the recent spike.
If the previous description occurs, the only indicator left that we will have for checking the debt market's actual economic reality is the 30-year yield. It is highly improbable that the central banks intervene those yields due to the distance in the final payment.