Starting Out Weaker vs 5pm or Stronger vs 3pm

One major milestone in anyone’s market-watching journey is when they learn that „the close“ (close of business, closing bell, etc.) means different things to different people. If we consider electronic futures trading or cash trading in overseas markets, bonds are only really closed for 2 hours a day anyway.  But the market needs a standardized time to mark the day’s final prices/yields. For most, that’s 3pm ET …