-Federal Govt in DC Closed, Bond Market Closes at Noon
-Personal Income Release, Tsy Auction to Proceed
WASHINGTON (MNI) – Hurricane Sandy, which some models predict could
be a 500-1,000-year storm, has forced government and market closures in
Washington and New York and the Mid Atlantic and Northeast brace for
impact.
Federal government offices in Washington will be closed and the
Securities Industry and Financial Markets Association recommended a noon
ET closure.
Public transit systems in Washington and New York will be shut down
Monday at least, and likely Tuesday, and New York has announced
mandatory evacuations in some areas, as the storm surge is projected to
reach 6-11 feet, compared to four feet in Hurricane Irene.
However, the Commerce Department will release September personal
income data as scheduled at 8:30 a.m. ET, via its web site, and the
Treasury 4-week bill auction will proceed.
The Federal Reserve and its Fedwire will be open.
NYSE Euronext said it will suspend physical trading floor
operations and invoke its contingency plans to trade all NYSE-listed
securities on NYSE Arca.
The CME Group said the NYMEX’s trading floor will be closed Monday,
since the NYMEX World Headquarters and New York trading floor are in the
evacuation zone.
However, all electronic markets will open at their regularly
scheduled times on CME Globex and CME ClearPort, the CME Group’s online
electronic platforms.
The Depository Trust & Clearing Corporation confirmed it will
maintain operations Monday. Deadlines for clearing fund, settlement and
other processes will be as usual. All other services will proceed
normally, with the exception of all securities certificate processing
services.
The SEC said it will grant relief for firms unable to access system
or process the reserve calculation from Friday, under certain
conditions.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MGU$$$,M$$FI$,MAUDS$]