Historic Japanese Bond Sell-Off and Record $7.8 Trillion Cash Holdings Weigh on Dow
Japan's $7.6 trillion bond market sell-off drove 10-year yields to 2.38% and U.S. Treasury yields higher, dragging the Dow Jones Industrial Average down 2.27% over five days. A record $7.8 trillion in money market funds and a Shiller P/E of 40.83 signal investor caution that could weigh on DIA.
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