Japanese markets are closed today due to Marine Day, a Japanese national holiday.
- Marine Day is a national holiday in Japan that is celebrated on the third Monday of July. It celebrates the importance of the ocean to Japan as an island nation and recognizes maritime activities, as well as its economic and cultural significance. The holiday also reminds people of the ocean’s bounty and encourages them to think about the environment. Many people celebrate the day by spending time on the beach, attending ocean-related events, and enjoying water sports.
US Treasury spot trading during Asian hours is primarily conducted in Japan, so with the Japanese market closed today there will be very little US Treasury spot trading during these hours.
Japan is one of the largest holders of U.S. Treasury securities. Japan’s high demand and substantial holdings of U.S. Treasury securities create a deep and liquid market that attracts traders and institutional investors looking to buy and sell U.S. Treasury securities during Asian hours. Large Japanese financial institutions, including banks and insurance companies, are important participants in the U.S. Treasury market. To enable these financial institutions to actively participate, they need a strong trading infrastructure in Japan.
Liquidity will also decrease in markets such as foreign exchange.
Marine Day in Japan – Best wishes to all who celebrate!
