Reply #9: Stock Traders Sleep, Bond Markets Work as Data Hit (Update1) [View All]

[ozymandius]

April 1 (Bloomberg) -- Tom Schrader, co-head of U.S. stock trading at Stifel Nicolaus & Co., plans to sleep in tomorrow. That’s not an option for all of his bond-market colleagues, said William Heinzerling, the firm’s head of fixed income.

The New York Stock Exchange observes the Christian holiday of Good Friday. The U.S. government doesn’t, sticking to its regular schedule of releasing economic reports with the potential to move markets.

This year, there’s an added wrinkle for at least the fourth time since 1996: Good Friday, whose timing depends on the cycles of the moon, coincides with the Labor Department’s employment report that’s sent out on the first Friday of every month. It’s the most influential planned event for the bond market, according to David Ader, head of government-bond strategy at CRT Capital Group LLC in Stamford, Connecticut. ....

The jobs report may boost stock-trading volume on April 5, when traders and investors return to work, said David Bellantonio. He’s the head of U.S. trading in New York at Instinet, which says it handles about 4 percent of the nation’s equity transactions.

http://www.bloomberg.com/apps/news?pid=20601109&sid=a9MlTo1eSVbs&pos=15