Major US stock indices open higher

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The major US indices are opening modestly higher:

• Dow Industrial Average average is trading up 50 points or +0.13% at 38902.25.
• S&P index up 11.16 points or 0.22% at 5191.89.
• NASDAQ index up 25.71 points or 0.16% at 16374.96.

The small-cap Russell 2000 index is trading up 4.50 points or 0.22% at 2065.17.

Looking at the US yield curve, yields are lower especially out the curve ahead of the coupon auctions over the next three trading days. Today the U.S. Treasury will auction off three-year notes, tomorrow 10 year note, and on Thursday 30 year bonds:

• 2-year yield 4.815%, -0.6 basis points
• 5-year yield 4.555%, -2.8 basis points
• 10 year yield 4.446%, -4.2 basis points
• 30-year yield 4.594%, -4.8 basis points