Bond yields keep rising and stocks are not so where is the hot money going- check out the dollar index (USDX) now

Global bond yields are rising again now, as the markets seem to shun the safety of government debt. Nowhere is that best demonstrated than across  the UK Gilt market right now. The UK 10 year yield is now approaching 4.80% and the 30 year is now at 5.35%, both up more than 0.10% from earlier this morning. The US 10 year note is now at 4.72%, but the Pound is not benefitting versus the dollar as you can see right now. At the same time the US stock markets look like getting hit on the opening this afternoon, unless anything changes and Gold is certainly no higher. So, where is all the hot money flow going you may ask? Well, in truth that is hard to answer beyond the dollar right now. So, let me have a look at the dollar index (USDX). That has jumped back above the 109 handle today. Since the beginning of this year the dollar index has risen to 109.53 and subsequently slid back to 107.73. It is back above that 109 handle today though and seemingly has the wind in its sails again and we can probably thank President elect Trump for that. It has not gotten above that 109.53 high yet, but it seems unwise to rule that out right now. A break above 109.53 surely opens a path to 110 and perhaps to a previously outlined technical level above 111. The high seen so far today has been set at 109.37 and it is not much below that right now