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US stocks lift with Bonds as yields fall and Dow Jones makes it above 36k

Following on from the previous update noting the rather mixed US ISM index, the stock markets took that unchanged headline reading as a positive and perhaps its all down to the new orders component and hence a dovish reaction has immediately played out. Once again I caution against that because that prices paid component is living proof that prices are simply not coming down fast enough for the Fed liking. Anyway, the Dow Jones chose to ride higher with the bond markets, as yields slipped on the news. The Dow has now made it past 36k today and the high seen immediately after the data was set at 36,070. The dollar remains on the defensive versus the Yen,, not so versus the Euro. Hence more unwind in the EUR/JPY cross. The Dow Jones is just now stalling and it remains to be seen if this milestone will be consolidated or rejected as the session develops. The Dow is currently trading at 36,025
 

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