The U.S. 30-year Treasury bond yield rose above its 200-day moving average of 4.20 percent for the first time since May Tuesday, possibly signaling a longer-term bearish trend for the securities.

In the immediate aftermath of an auction of $24 billion of 10-year Treasury notes, 30-year bonds were trading 1-28/32 lower in price with the yield climbing to 4.24 percent, above the 200-day moving average and up from 4.12 percent late Monday. The bond briefly traded two points lower in price Tuesday afternoon.

Such a yield break above the 200-day moving average is considered to be a bearish indicator.