Open Markets Institute

People are asking whether today is a holiday, and the answer involves Columbus Day. US stock markets are open but bond markets are closed, with trading hours adjusted accordingly. Many federal offices and banks shut for the day while businesses remain open. Search interest in the question has surged as Americans check whether schools, services and financial institutions are operating normally.

Italy's banking consolidation debate has widened, with Monte dei Paschi di Siena at the centre of market attention. Corriere della Sera writes that the banking 'risiko' has now reached Trieste, arguing that for Generali a phase of cohabitation is opening. The story feeds ongoing speculation about partnerships and ownership moves among Italy's major financial institutions.

Wall Street breaks its usual holiday pattern by remaining open on Columbus Day, even as most US financial institutions close for the federal holiday. Bond markets shut while equities trade a shortened session, a long-standing exception that draws fresh attention each October. Many office workers and banks take the day off, but stock trading goes ahead as normal.

A Dutch-language post is drawing attention to a new argument for a stronger independent authority to enforce Europe's rules on tech companies. The plea appears on Nexuseu, a website run by the Open Markets Institute think tank. Commenters note the timing is relevant as debates over Big Tech enforcement continue in Brussels.

A low-cost, $100 exam is being positioned as a mechanism to open private markets to retail investors at a time when institutions are pulling back. If adopted, it could give ordinary investors access to asset classes long reserved for institutions and accredited investors. Observers see it as part of a broader push to democratize investing, though questions remain over protections and who would oversee the qualification process.

An essay argues that the United States owes its wealth to liberalism, pointing to the country's embrace of free markets, open institutions, and the rule of law as the foundation of its economic success. The claim is prompting debate over how much credit liberal economic principles deserve for American prosperity compared with other factors.

Robinhood has opened the roadshow for its Ventures Fund II to retail investors, allowing everyday customers to participate in a fund traditionally reserved for institutional players. The news came overnight alongside a dip in HOOD shares in premarket trading. The move extends Robinhood's push to broaden access to private-market investments, though the stock's initial reaction was muted.

News outlets are publishing their annual Columbus Day closures guide. Most banks close for the federal holiday, while US Postal Service offices shut and regular mail delivery pauses. Many schools observe the holiday, though some districts stay open. The stock market stays open, but bond markets close. Several states instead recognise Indigenous Peoples' Day.

The Bank of Korea has decided to use only a wholesale central bank digital currency for settling tokenized government bond transactions, excluding stablecoins from the process. The move signals that the central bank intends to keep settlement of tokenized sovereign debt within the institutional, central-bank-backed system rather than opening it to private stablecoin issuers. The decision is being watched closely as other central banks weigh how tokenized bond markets should be settled.