The holiday, which falls on Oct. 9 this year and is observed annually on the second Monday of October, comes after a rocky week for the stock market. Bond yields rose to highs not seen since the early 2000s amid concerns that the Federal Reserve will continue to be hawkish and raise interest rates later this year.
However, the bond market will be closed, since the Federal Reserve and many banks will be shut in observance of the holiday. However, the Toronto Stock Exchange will be closed: Canada celebrates its Thanksgiving holiday on the second Monday of October. Twenty-nine states and the District of Columbia currently recognize Indigenous Peoples’ Day instead of Columbus Day. President Joe Biden officially recognized Indigenous Peoples’ Day in 2021, the first time a U.S. president has done so.
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