The U.S. cash bond market will be closed next Monday, Oct. 12, according to the holiday schedule published by the Securities Industry and Financial Markets Association, or SIFMA. The date marks Columbus Day, one of the U.S. federal holidays, though local holiday arrangements are not fully uniform across the country. For financial markets, the closure does not extend across all major products. U.S. equities will trade as usual, and CME U.S. Treasury futures will also remain open for normal trading. The notice draws a clear distinction between the cash bond market and Treasury futures. Cash bonds refer to actually issued instruments such as U.S. Treasuries, corporate bonds and commercial paper. Treasury futures, by contrast, are standardized futures contracts that use U.S. government bonds as the underlying asset. The schedule means investors will see a split trading day across related fixed-income markets, with the spot bond market shut while futures continue to trade.
The U.S. cash bond market will close next Monday, Oct. 12, according to the holiday schedule released by the Securities Industry and Financial Markets Association, or SIFMA, BlockBeats reported on Oct. 9.
Oct. 12 is Columbus Day, one of the federal public holidays in the United States, although holiday arrangements are not fully consistent across different local jurisdictions. In financial markets, U.S. stocks will remain open, and CME U.S. Treasury futures will continue to trade as usual. The U.S. cash bond market, however, will be closed for the full day.
Cash bonds and U.S. Treasury futures are not the same product. Cash bonds refer to actually issued instruments such as U.S. Treasuries, corporate bonds and commercial paper. Treasury futures are standardized futures contracts with U.S. government bonds as the underlying asset.
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