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People attend the Veterans Day Parade at 5th Avenue on November 11, at 2019 in New York City
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Most U.S. markets will stay open on Wednesday despite the Veterans Day holiday, keeping many investors at their desks.
The exceptions, however, will be government bond and corporate debt markets. The Securities Industry and Financial Markets Association (Sifma) has recommended U.S. bond markets stay closured on Nov. 11.
The 10-year Treasury note yield TMUBMUSD10Y, 0.951% was virtually unchanged at 0.95% on Tuesday, following the previous day’s vicious selloff that inched the benchmark rate closer to a key 1% threshold.
Equity markets will remain wide open Wednesday during the federal holiday in what is shaping up to be a tumultuous week.
The S&P 500 SPX, +0.03% and Dow Jones Industrial Average DJIA, +0.72% are positive for the week, while the Nasdaq Composite COMP, -0.67% is on track for losses, reflecting headway in the much-awaited rotation from stocks of fast-growing companies to shares of the most beaten-down industries, amid signs of progress in the development of a potential COVID-19 vaccine.
Trading in commodities, including gold GC00, +1.55% and oil CL.1, +2.06% will continue on Wednesday.
Prior to 1939, both equity and bond markets were closed on Veterans Day. But back then, the date was known as Armistice Day in honor of World War I veterans. Now, the federal holiday is used to honor all American veterans.
Veterans Day differs slightly from Memorial Day, another public holiday in May devoted to the U.S. armed forces. While Veterans Day honors all veterans, Memorial Day honors those who died while serving in the military.
