Treasury Market Summary
Treasury Market Summary: September is typically a bearish month for Wall Street, and that's how it began this year, with the major indices losing over 1%. While trade and tariff worries continue to cast a dark shadow over the global economy, the contraction in the ISM manufacturing index to 49.1, the first time in three years below the 50 expansion/contraction line, deepened investor concerns and knocked stocks sharply lower. Treasuries garnered a strong safety bid and added to Fed rate cut bets, taking yields down to new cycle yield lows, while the bond made a fresh historic nadir. Along with the disappointing data, reports Boeing's MAX 737 may not be back in service by the holiday travel season. Apple was also hit hard by the imposition of tariffs on Sunday. Oil was also battered by worries over a slowing in global growth. View the summary.