Markets can ignore Wall Street when they want to.

They’ve largely disregarded warnings from equity strategists at some of the biggest banks. Goldman Sachs Group Inc. and JPMorgan Chase & Co. this past week cautioned about the dire effect of a full-blown trade war — fears stoked by news that President Trump had instructed aides to impose additional tariffs on Chinese products. A week earlier, Citigroup Inc. and UBS Group AG said another pullback in U.S. stocks may be in the offing.

But the S&P 500 keeps churning higher. The benchmark rose 1.2 percent in the five days through Friday to cap its longest winning streak since February.

Months of trade wrangling, rising interest rates and emerging-market uncertainty have left the bulls immune to one-off geopolitical headlines and have instead kept them focused on economic fundamentals.

What’s helped lift spirits is an unexpected cooling in inflation for August, boosting bets that a more persistent slowdown in prices could affect policymakers’ outlook for future rate hikes.

The U.S. Treasury will sell $48 billion of three-month bills and $42 billion of six-month bills on Monday. They yielded 2.16 percent and 2.34 percent, respectively, in when-issued trading. It will also sell four-week bills on Tuesday, and 10-year Treasury Inflation Protected Securities on Thursday.

— Bloomberg News