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Dow Jones opens higher but fails on opening first attempt at 40k as US yields rise further

The Dow Jones opened officially today at 39,912. It shot immediately higher on the opening, to a new all time high at 39,959 and looked like it might have a look at that coveted 40k level. Well, is has failed in that first attempt. The index has dropped back and now it is trading in the red. Once again the catalyst for that seems to rest with the bond markets. That 2 year note has just now hit a session high at 4.785% and that has undermined the Dow Jones, as much as it has further underpinned, what is now a pretty impressive rebound in the USD/JPY, touching 155.50 a moment ago. The Dow Jones is just now trading ay 39,885

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