U.S. Market Holiday Schedule: Veterans Day 2025 Trading Impact Analysis

This analysis is based on the Investopedia report [1] published on November 7, 2025, which clarifies the U.S. market trading schedule for Veterans Day 2025. The announcement reveals a critical operational divergence: bond markets will close on Tuesday, November 11, 2025, while equity markets will continue normal trading operations [1].

Current market context shows mixed performance across major indices. On November 6, 2025, U.S. markets experienced declines with the S&P 500 closing at 6,720.32 (down 0.99%), NASDAQ at 23,053.99 (down 1.74%), and Dow Jones at 46,912.31 (down 0.73%) [0]. In contrast, Asian markets showed positive momentum on November 7, with Shanghai Composite up 0.71% and Shenzhen Component up 1.36% [0], suggesting potential international trading opportunities during the U.S. bond market closure.

The broader holiday schedule indicates additional market disruptions: both markets will close for Thanksgiving on November 27, with early closing on November 28 (1:00 PM for stocks, 2:00 PM for bonds) [1]. The pattern continues through the year-end holidays with early closures on Christmas Eve and New Year’s Eve.

: The differential market operation creates a rare scenario where equity trading continues without bond market participation. This structural divergence may lead to:

• Altered liquidity patterns as fixed-income capital seeks alternative venues
• Potential pricing dislocations between equities and their usual bond market correlations
• Increased focus on international bond markets for U.S. investors seeking fixed-income exposure

: The bond market closure on November 11 creates settlement complications for trades executed around the holiday period. With standard T+2 settlement cycles, trades executed on November 7-8 may face processing delays, requiring careful coordination between counterparties and clearing houses.

: The holiday schedule creates distinct opportunities:

• Pre-holiday positioning: November 8-10 becomes critical for bond market participants
• Cross-market arbitrage: International bond markets remain open while U.S. markets are closed
• Post-holiday normalization: Treasury operations resume quickly with 13-week and 26-week BILL auctions scheduled for November 13 [3]

1. Settlement Risk
   : The bond market closure may create T+2 settlement complications for trades executed November 7-8, potentially causing delays in cash flows and position reconciliations.
2. Liquidity Concentration
   : Equity markets may experience abnormal volume patterns as fixed-income capital seeks alternative trading venues, potentially increasing volatility.
3. Valuation Challenges
   : Portfolios with U.S. bond holdings may face temporary valuation difficulties during the closure period.

1. International Market Access
   : Global investors can utilize international bond markets while U.S. markets are closed, potentially accessing favorable pricing or yield opportunities.
2. Strategic Rebalancing
   : The pre-holiday period (November 8-10) offers optimal timing for portfolio adjustments requiring bond market participation.
3. Cross-Asset Arbitrage
   : The divergence between open equity and closed bond markets may create temporary pricing inefficiencies for sophisticated traders.

:

• November 11
  : Bond market closed, Stock market open (normal hours 9:30 AM - 4:00 PM ET) [1]
• Regular Hours
  : Stocks maintain standard trading schedule with pre-market (4:00 AM - 9:30 AM ET) and after-hours (4:00 PM - 8:00 PM ET) sessions [2]

:

• ETF Trading
  : Bond ETFs will likely continue trading despite underlying bond market closure, though pricing may reflect wider spreads
• Federal Reserve Operations
  : Central bank operations typically follow bond market schedule, affecting monetary policy implementation
• Treasury Operations
  : Normal operations resume quickly post-holiday with scheduled auctions on November 13 [3]

[1]:

• Thanksgiving
  : November 27 (both markets closed), November 28 (early close: stocks 1:00 PM, bonds 2:00 PM)
• Christmas
  : December 24 (early close), December 25 (both closed)
• New Year
  : December 31 (bonds close 2:00 PM), January 1, 2026 (both closed)

: Recent performance shows U.S. indices under pressure while Asian markets demonstrate strength, suggesting potential regional rotation opportunities during the holiday period [0].