Sept 23: A-shares Closed, Xi Visits US, US Durable Goods Due

The overlap of a mainland market holiday with Xi's US state visit leaves A-share pricing to catch up only after the trip concludes, so any read-through from the diplomacy is deferred rather than immediate. The session's real information flow sits offshore: Williams and Bailey on a policy panel, plus US durable goods data, will shape rate expectations that Chinese markets can only absorb on reopening. Whether the visit produces concrete deliverables — and how global rates reprice around those speakers — is the open question.