Treasury Closing Summary: Treasury Closing Summary: Though volatility remained endemic to the stock markets, the dollar and bond markets steadied just below recent highs. Europe crumbled again led by a dazzling 2.4% plunge on the German DAX, which eventually came home to roost on Wall Street with the help of the semiconductor sector after a typical but brief "deceased feline" bounce after the European close. Trade prices came in quite weak thanks to the energy slump and dollar rally, while the VIX equity vol index cruised to a fresh cycle high over 22.0.
Dallas Fed's Fisher said the economy is on the mend Dallas Fed's Fisher said the economy is on the mend and growth should accelerate over the next six months. Labor market dynamics have been improving. However, there still are not signs of significant inflationary pressures. There's nothing new or insightful in his comments. The long-standing hawk will only be participating as a voter in two more FOMC meetings this year, and will be retiring next year.