Is the Bond Market Open on Christmas Day 2026? SIFMA Hours
December 25
Is the Bond Market Open on Christmas Day 2026? SIFMA Hours
US Bond Market (SIFMA) are closed on Friday, for Christmas Day.
- Next holiday
- New Year's Eve
- Regular hours
- 8:00 am to 5:00 pm ET
Full schedule and background: Bond Market Holidays.
Updated
The US bond market is closed on Friday, December 25, 2026 for Christmas Day. The Securities Industry and Financial Markets Association (SIFMA), which issues recommended trading hours for fixed income markets in the United States, has recommended a full market close for the day. Because Christmas Day falls on a Friday in 2026, the bond market will remain shut for a normal weekday and reopen on Monday, December 28, 2026. Orders and settlements that would normally process on December 25 roll forward to the next open business day. This page covers the bond market specifically; for the full annual list of dates, see the bond market holiday calendar.
Equity markets follow the same pattern. The New York Stock Exchange and Nasdaq are also closed on December 25 every year, so both stocks and bonds pause trading simultaneously across the United States.
Which markets are closed on Christmas Day 2026?
| Market | Status | Notes |
|---|---|---|
| US Bond Market (SIFMA) | Closed | Full close recommended by SIFMA for cash and repo trading |
| NYSE and Nasdaq (equities) | Closed | Standard federal market holiday observed every year |
| CME futures | Closed | Trading floors and most electronic sessions halted for the holiday |
| US options markets | Closed | No new trades or expirations processed on the holiday |
| London Stock Exchange | Closed | UK exchanges observe Christmas Day and Boxing Day as bank holidays |
| Euronext | Closed | Christmas Day is a standard closure across Euronext venues |
| Tokyo Stock Exchange | Open (regular hours) | Japan does not observe Christmas Day as a market holiday |
Is the market open the day before and after?
Thursday, December 24, 2026 (Christmas Eve) is a regular trading day for the bond market, though SIFMA has in some years recommended an early close ahead of the holiday. Check the SIFMA holiday schedule for confirmation closer to the date. The next trading day after Christmas is Monday, December 28, 2026, when both bond and equity markets reopen for normal hours, which for the bond market run from 8:00 am to 5:00 pm ET (SIFMA recommended). There is no early close scheduled for Christmas Eve itself in the current SIFMA calendar beyond the usual recommendation, so investors should treat December 24 as a full session unless SIFMA issues an update.
Why do markets close for Christmas Day?
Christmas Day has been observed as a market holiday in the United States for well over a century, reflecting its status as a federal holiday and the near-universal closure of banks, government offices and most businesses. Because bond trading, unlike some other financial activity, depends heavily on bank staffing, settlement systems and government bond auctions, SIFMA aligns its recommended holiday schedule with the federal calendar so that dealers, custodians and clearing houses can all close together without leaving any part of the settlement chain running short-staffed.
The coordinated closure also avoids the risk of thin trading. With most major participants away from their desks, keeping markets open on Christmas Day would mean unusually low liquidity and wider spreads, which is generally seen as unhelpful for price discovery. Closing the market entirely removes that risk and gives staff at banks, clearing firms and exchanges the holiday off alongside the rest of the country.
What It Means for Your Money
If you place a bond trade, place an order with your broker, or set up an automatic transfer on December 25, it will simply queue and be processed when the market reopens on December 28, 2026. Settlement, which is the point at which cash and securities actually change hands, follows a T+1 timetable for most US Treasury and corporate bond trades, meaning a trade executed on the 24th settles on the 28th once the holiday is skipped. Anyone expecting a bond coupon payment or a maturing Treasury bill around this date may see the payment credited a day later than usual because banks are closed. Bank transfers, wire payments and payroll runs that would normally clear on December 25 are also delayed until the next business day, so employees paid around the holiday should expect funds to land on or after December 28. Mortgage and savings rates are not directly affected by a single closed trading day, though the bond market’s reopening reaction on December 28 can move Treasury yields, which in turn feed through to mortgage pricing and savings account rates over the following days. Cryptocurrency markets are unaffected because they trade 24 hours a day, seven days a week, including on Christmas Day.
Remaining SIFMA bond market holidays in 2026
- New Year’s Eve (Early Close), December 31, 2026, closing at 2:00 pm ET
Frequently Asked Questions
Is the bond market open on Christmas Day 2026?
No. SIFMA recommends a full close of the US bond market on Friday, December 25, 2026.
Is the stock market open on Christmas Day 2026?
No, the NYSE and Nasdaq are also closed on December 25, 2026, alongside the bond market.
What time does the bond market normally close?
On a regular trading day the SIFMA-recommended hours run from 8:00 am to 5:00 pm ET.
When is the next bond market holiday after Christmas?
The next SIFMA date is New Year’s Eve, December 31, 2026, which is an early close recommended to end at 2:00 pm ET rather than a full closure.
Are banks open on Christmas Day?
No. Christmas Day is a federal holiday in the United States, so banks are closed and electronic transfers and payroll deposits scheduled for that day are processed on the next business day.