Is Veterans Day a Financial Market Holiday?
Discover the true operational status of financial markets on Veterans Day. Not all sectors observe it the same way.
Veterans Day, observed annually on November 11, is a federal holiday in the United States honoring military veterans. This day often leads to questions regarding the operational status of financial institutions and markets. The financial world does not uniformly observe all federal holidays, meaning operational status can differ across sectors. This article clarifies how the stock market, bond market, and banking services operate on Veterans Day, providing an overview of its impact on financial activities.
Stock Market Operations on Veterans Day
Major U.S. stock exchanges, including the New York Stock Exchange (NYSE) and NASDAQ, typically remain open for regular trading on Veterans Day. These exchanges operate on a distinct holiday schedule that does not always align with federal holidays. Normal trading hours for these markets are from 9:30 AM to 4:00 PM Eastern Time (ET), and these hours are maintained. Pre-market and after-hours trading sessions also proceed as scheduled. Investors can expect to engage in their regular trading activities without interruption on this day.
Bond Market Operations on Veterans Day
In contrast to the stock market, the U.S. bond market generally observes Veterans Day as a full trading holiday. The Securities Industry and Financial Markets Association (SIFMA), a leading trade group for the securities industry, issues recommendations for fixed income market closures, and Veterans Day is typically included in their full market close schedule. This means that trading of U.S. dollar-denominated government securities, mortgage-backed securities, corporate bonds, and municipal bonds is suspended. This closure affects primary and secondary market trading across various debt instruments. Therefore, anyone looking to execute bond trades on Veterans Day should anticipate that the market will not be operational.
Bank Operations on Veterans Day
Most commercial banks and federal banking institutions, including the Federal Reserve, observe Veterans Day as a holiday. This typically means that physical bank branches across the United States are closed for in-person services. Bank tellers and other staff are generally not available, and drive-through services are also suspended unless automated.
Despite branch closures, digital banking services remain accessible to customers. Online banking platforms, mobile applications, and automated teller machines (ATMs) continue to operate, allowing individuals to manage their accounts, pay bills, transfer funds between accounts, and withdraw cash. However, transactions initiated on Veterans Day, such as deposits or transfers to external accounts, may not be processed until the next business day. This delay occurs because the Federal Reserve, which processes interbank transactions, is also closed.