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  • Home>UPDATE: Veterans Day: Why stock and bond markets will be open for first time since 2006

    UPDATE: Veterans Day: Why stock and bond markets will be open for first time since 2006

    UPDATE: Veterans Day: Why stock and bond markets will be open for first time since 2006

    11/10/2017

    By Mark DeCambre, MarketWatch

    Which stock and bond markets are closed? None!

    Veterans Day, intended to pay homage to U.S. military servicewomen and men, falls on a Saturday in 2017. As a result, the bond market, traditionally closed on the federal holiday, will be open on Friday.

    The Securities Industry and Financial Markets Association, known as Sifma, isn't recommending that bond markets close in observance of Veterans Day this year, marking the first time in more than a decade that bond traders won't have a day off in observance of the occasion.

    Here's why:

    "Sifma generally bases our fixed-income market closure recommendations on the New York Federal Reserve's holiday schedule. There is no market closure recommendation for Veterans Day 2017, consistent with historical practices," Sifma spokeswoman Emily Reinus wrote in an email.

    Traders of assets like 10-year Treasury notes and 30-year Treasury didn't observe Veterans Day during the regular workweek in 2006 and before that in 2000 (https://www.sifma.org/wp-content/uploads/2017/06/misc-us-historical-holiday-market-recommendations-sifma.pdf), when the holiday also fell on a Saturday.

    Veterans Day used to be celebrated by stock and bond markets alike, starting as far back as 1938 (some put the date back to 1921). Back in 1938, Veterans Day was declared a legal holiday to be celebrated on Nov. 11, known as Armistice Day.