  While the statistical mechanical description of DNA has a long tradition,
renewed interest in DNA melting from a physics perspective is nourished by
measurements of the fluctuation dynamics of local denaturation bubbles by
single molecule spectroscopy. The dynamical opening of DNA bubbles (DNA
breathing) is supposedly crucial for biological functioning during, for
instance, transcription initiation and DNA's interaction with selectively
single-stranded DNA binding proteins. Motivated by this, we consider the bubble
breathing dynamics in a heteropolymer DNA based on a (2+1)-variable master
equation and complementary stochastic Gillespie simulations, providing the
bubble size and the position of the bubble along the sequence as a function of
time. We utilize new experimental data that independently obtain stacking and
hydrogen bonding contributions to DNA stability. We calculate the spectrum of
relaxation times and the experimentally measurable autocorrelation function of
a fluorophore-quencher tagged base-pair, and demonstrate good agreement with
fluorescence correlation experiments. A significant dependence of opening
probability and waiting time between bubble events on the local DNA sequence is
revealed and quantified for a promoter sequence of the T7 phage. The strong
dependence on sequence, temperature and salt concentration for the breathing
dynamics of DNA found here points at a good potential for nanosensing
applications by utilizing short fluorophore-quencher dressed DNA constructs.
