But 10yr yield also rising and remains elevated at 1.45pc from 1.4pc and the DXY is now above 91.
High zigzag volatility makes it difficult to read, but in the short term survival of test of key supports suggest a Melt-up in progress; inability or refusal to undergo a normal corrective process makes it more a worrisome prospect that the delay would bring an inevitable larger pop. This week and next would see a flurry of economic data as well as the Fed testimony on the economy which should set the stage for market direction going forwards.
Something which I observed in yesterday's trading was a flavour of Flight to Quality in motion ; given what I had posted in relation to blue chip performance last night, one should IMO tread carefully in selection process.
