No rear brakes

While having a friend pump the brakes I loosened the bleeder valve and nothing happened. The peddle don't move, no air, no fluid, nothing. I went to the block on the rear end, broke it lose pumped brakes and still nothing. I moved to the MC, pump brakes and fluid come out. I have not tried bleeding at the the proportioning valve yet but that's next on the list. I guess thatwill tell me if the valve is bad?