Treasury Market Summary
Treasury Market Summary: it was a rather calm end to September and the third quarter-end. Treasuries were little changed to fractionally richer taking a circumspect view of current events. Wall Street rallied, however, after the U.S. Treasury dismissed a Bloomberg story about the U.S. restricting Chinese access to U.S. markets. Better than expected Chinese PMI data also helped, along with an upgrade to Apple earnings forecasts. Despite all the hand wringing on the month and volatility on the quarter, the Dow is up about 2% in September and 1.4% for Q3, and just shy of all-time highs. The Chicago PMI and Dallas Fed manufacturing reports disappointed but were overlooked. Also in the news, the WTO ruled in favor of the U.S. after finding Airbus received illegal subsidies in the billions of dollars. View the summary.