The U.S. stock market is closed on Monday, May 29 for Memorial Day, as is the bond market, but the trading session for bonds also ended early Friday at 2 p.m. Eastern, ahead of the long holiday weekend.
Investors have been glued to developments on the U.S. debt-ceiling impasse in recent days, with talks in Washington looking somewhat promising on Friday for an agreement to be reached to avert bringing the U.S. to the brink of a default.
Read: Here’s what’s in the emerging debt-ceiling deal — such as a cut to the IRS
Trading has been volatile in U.S. debt, especially in short-term Treasury bills due around the June 1 “X-date,” or when Treasury Secretary Janet said the government is likely to run out of enough funds to coverall its bills, without a deal to suspend or increase the current $31.4 trillion U.S. borrowing limit.
The rate on the 1-month
TMUBMUSD01M,
Stocks finished higher on Friday as well, but with the Dow Jones Industrial Average
DJIA,
Also see: Memorial Day weekend: Is the post office delivering mail on Monday? Are banks open?
