August was marked by some of the wildest price swings of 2019 as markets gyrated on every apparent bust-up and breakthrough in the U.S.-China trade showdown. This psat week’s rally came as Beijing indicated it won’t immediately retaliate against new tariffs, steadying investors’ nerves. End-of-month portfolio rebalancing may also have helped.
The S&P 500 posted its biggest weekly gain since early June. All 11 major industry groups advanced. Industrial stocks, which tend to be more affected by trade tensions, were the best performers, rallying 3.6 percent.
The U.S. Treasury will sell $45 billion of three-month bills and $42 billion of six-month bills on Tuesday. They yielded 1.98 percent and 1.87 percent, respectively, in when-issued trading. It will also sell four-week bills and eight-week bills on Thursday.