Ahead of the Presidents' Day holiday, some markets will close early,
particularly in the futures market. Most prominently, trading in all U.S.
Treasury futures and options will cease at 1 p.m. EST at the Chicago Board of
Trade.
All agricultural contracts that trade at the CBOT, including
corn, soy and wheat, for example, will adhere to regular hours.
At the Chicago Mercantile Exchange, or CME, all trading in Eurodollar futures
and options will cease at 1 p.m. EST., as will trading in foreign exchange
futures and options.
In the cash market, the Securities Industry and Financial Markets
Association has recommended a 2 p.m. close for all fixed-income securities,
including U.S. Treasury, agency, corporate, asset-backed, municipal, and
mortgage securities.
There is no early close in oil and oil products, natural gas, gold, copper,
or silver, as was the case in past years.
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Tony Crescenzi Blog Sticky UOM Inflation Expectations 2/16/2007 10:29 AM EST This stickiness is one of the reasons why Bernanke is waiting on a sustained drop ininflation before sounding the all-clear.
Tony Crescenzi Blog Foreign Sales of U.S. Stocks Hit Record 2/15/2007 2:52 PM EST The net sale was probably related to a shifting of capital from U.S. to European stocks.
Tony Crescenzi is the chief bond market strategist at Miller Tabak + Co., LLC, and advises many of the nation's top institutional investors on issues related to the bond market, the economy and other macro-related issues. At the request of the Federal Reserve, Crescenzi is a regular participant in the board's Livingston Survey of economic forecasters. He is also the author of The Strategic Bond Investor. At the time of publication, Crescenzi or Miller Tabak had no positions in the securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Crescenzi also is the founder of Bondtalk.com, a popular Web site covering the bond market and the economy. Crescenzi appreciates your feedback; click here to send him an email.
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