Yesterday, I called the trading desk to sell a muni-bond and this is how the end of the conversation went:
Jen: “Okay, so you’ll sell the bond on Friday and it will settle on Monday, right?”
Bond Guy: “It will settle next day, which is Tuesday, due to the holiday.”
Jen: “What holiday?”
Bond Guy: (Pause.) “Uh, Christmas.”
Jen: “(Expletive.) Omigod! I can’t believe I forgot!”
This is what happens when your firm works you to the bone.