DJIA hit 23,000 for the first time - ANZ

Analysts at ANZ explained that the USD continued to rise, with the Treasury curve bear flattening. 

Key Quotes:

"US equities hit new records before coming off the highs in the New York afternoon. Commodity prices declined. DJIA hit 23,000 for the first time, up around 25% since the election, with S&P 500 unchanged on the day. 

European bourses were mixed, with Spain rebounding 0.4% and other bourses biased downward. The US Treasury curve continued to flatten, with the front-end up 1bp and 10 year unchanged at 2.30%. 

Speculation that John Taylor will be the next Fed chair is driving a bear flattening of the curve. Periphery yields fell 2-3bps, while core European yields were relatively unchanged. 

The USD gained against all in the G10, with NOK and SEK underperforming. GBP initially climbed higher after the CPI release although a divided BoE saw the currency fall below 1.32."