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WALL STREET INSIGHT

Bond interest rates may determine market direction

Any further moves in Treasury yields, particularly a testing of the 3 per cent level on the 10-year Treasury note, could jolt stocks, even if earnings season progresses well

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Hundreds of billions of dollars in wealth have evaporated in recent weeks as the price of bitcoin has fallen by more than half from its peak of around US$19,500 in December and it dipped below US$8,000 last Friday before recovering somewhat.

SPECULATORS on stocks and bitcoin learned this week that market "melt-ups" - greed-fuelled, rocket-paced rallies such as those of the last three months - are so-called because of how often they are followed by meltdowns.

With the biggest January gains since 2003, the stock market melted...

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