Monday, November 29, 2021
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    Will the stock market close on Veterans Day? No, but the bond market — that’s why.

    Veterans Day, aimed at paying homage to U.S. military women and men, begins Thursday, resulting in the bond market closing on federal holidays.

    The Securities Industry Financial Markets Association, known as Schifma, has traditionally recommended closing the bond market based on the Federal Reserve Bank of New York’s holiday schedule.

    When it comes to remittances, you can choose to close your private bank, keep it open, or save time. The Federal Reserve Bank and all its offices and branches are closed on all federal holidays, including Veterans Day. Emails cannot be delivered on the day.

    However, trading on average of 30 Dow Jones Industrial Averages
    DJIA,
    -0.23%
    ,
    S & P500 Index
    SPX,
    + 0.20%

    Nasdaq Composite Index
    COMP,
    + 0.71%

    It works fine, starting at 9:30 EST and ending at 4 pm.

    Veterans Day is one of the rare trading days in the United States, with bond markets closed and stock exchanges open.

    Veterans Day dates back to 1938 and was similarly celebrated on the stock and bond markets (some dated in 1921). In 1938, Veterans Day was declared a statutory holiday celebrated on November 11. This is known as Armistice Day. The stock market was observing Veterans Day with a short two-minute shutdown from 1954 to 2006, which ended in 2007.

    Over the years, holiday dates and names have changed.

    The timing of World War I anniversary has changed, with the celebration of World War I veterans and the dedication “for world peace.” According to the Military.com website..

    In 1954, the term “rest of war” was replaced by “veterans” by the US Parliament in honor of veterans of World War II and the Korean War. November 11th was set as the designated date. Memorial Day for the war dead also pays homage to the US military, but also to those who died while serving in the military.

    Under the so-called Uniform Holiday Act signed by President Lindon B. Johnson in 1968, Veterans Day was moved to the last Monday of October. Immediately another change followed. In 1975, President Gerald Ford returned the holiday from 1978 to November 11. In other words, the days when holidays are observed shift and may occur on days other than normal weekdays.

    So on Thursday, while trading 10-year government bonds
    TMUBMUSD10Y,
    1.553%

    And 30 years long bonds
    TMUBMUSD30Y,
    1.909%

    No stocks, currencies or other markets (such as the gold market)
    GCZ21,
    + 0.82%

    And crude oil
    CL.1,
    + 0.87%
    ,
    It is actively traded.

    Other equity benchmarks elsewhere in the world, including the Stoxx Europe 600
    SXXP,
    + 0.17%

    And the UK FTSE 100
    UKX,
    + 0.51%
    ,
    It works fine.

    Will the stock market close on Veterans Day? No, but the bond market — that’s why.

    Source link Will the stock market close on Veterans Day? No, but the bond market — that’s why.

    The post Will the stock market close on Veterans Day? No, but the bond market — that’s why. appeared first on Eminetra.

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