No Conclusions Drawn From Dealers, Treasury To Oct. 15 Volatility

Minutes of a meeting between the Treasury Department, primary dealers and major bond buyers found "no firm conclusions" as to the volatility in the bond markets on Oct. 15, which was one of the most volatile days in the bond market since the Lehman Brothers collapse. Participants expressed "a wide variety" of views on whether the event was "a perfect storm," but the minutes didn't describe those views. The Treasury Borrowing Advisory Committee includes representatives from firms including Goldman Sachs, Morgan Stanley, Blackrock and Pimco.