Are NYSE and Nasdaq open?

Bond Market and Holidays Differ

Bond traders are following a more expansive holiday schedule under guidelines set by the Securities and Financial Markets Industry Association (SIFMA), a trade group representing securities firms, banks and asset management companies.

In 2022, US bond markets close on nine days when stock markets are silent, as well as Columbus Day (Monday, October 10) and Veterans Day (Friday, November 11). ). Like the NYSE and Nasdaq, the bond markets are adding the new federal holiday of June 16.

Bond markets closed early (at 2 p.m. ET) six times in 2022, including on April 14, the day before Good Friday. The other early closings are the Friday before Memorial Day, the Friday before Independence Day, Black Friday, Christmas Eve (observed on Friday, December 23), and New Year’s Eve (observed on Friday). observe Friday, December 30). 2022).

The stock market calendar also differs from the Federal Reserve System holiday calendar followed by most US banks. The Fed observes Columbus Day and Veterans Day, doesn’t take Good Friday off, and doesn’t have any formally scheduled early closing days.

Stock markets rarely sleep for long

Except in rare circumstances, three-day holiday weekends are the longest the stock market is down. Exchanges have closed for more than three consecutive days only a handful of times in the past century, most recently during Superstorm Sandy in 2012 and after the 9/11 attacks in 2001.

The three-day limit isn’t a formal policy, but rather a rule of thumb that prevents “investor distress” from building up over a prolonged down period and creating volatility when the market reopens, says Sam Stovall, strategist chief investment officer at investment research. signature CFRA.

“There’s an old saying that bull markets take the escalator while bear markets take the elevator,” says Stovall. “Since fear is a bigger motivator than greed, I think investors don’t want to be denied access to their money for too long.” Otherwise, they end up taking money off the table, especially if some puzzling event occurred while the exchange was closed.”

Add Comment