The bond market closed for Columbus Day applies Monday, October 12, 2026: the US bond market (Treasury bonds, corporate bonds, commercial paper) stays shut on a SIFMA recommendation, while stock exchanges and Treasury futures operate on their usual hours. SIFMA specifies that this closure covers trading in dollar-denominated fixed income securities in the United States, the United Kingdom, and Japan that day.
This break reduces reference points on rates for the session, since participants cannot trade cash Treasuries while stocks continue to quote normally. Traders who follow rate-sensitive positions must therefore deal with bond liquidity being absent for part of the day, even though equity markets and interest rate futures contracts remain active.
What happened Friday in the stock markets
Wall Street closed Friday, October 9, 2026, higher across its three indices, ending the week on a gain. The Dow Jones Industrial Average rose 423.31 points, or 0.83%, to 51,654.95 points. The S&P 500 gained 46.15 points, or 0.59%, to 7,811.51 points. The Nasdaq Composite advanced 172.83 points, or 0.64%, to 27,366.17 points, according to figures reported by Yahoo Finance.
| Index | Closing level | Change |
|---|---|---|
| Dow Jones Industrial Average | 51,654.95 points | +0.83% |
| S&P 500 | 7,811.51 points | +0.59% |
| Nasdaq Composite | 27,366.17 points | +0.64% |
This Friday close follows a week already marked by record levels on the S&P 500, as recalled in the briefing of October 11, 2026, and then a pullback noted in the briefing of October 9, 2026 before the rebound in the weekly closing session.
The Iranian statement on reopening the Strait of Hormuz
Mohsen Rezaei, Iran’s national security chief, said on October 11, 2026, that the US response to the seven conditions set by Iran for reopening the Strait of Hormuz was insufficient. According to the quote reported by The National, he said: “The Americans have now responded. While they have accepted some of our conditions, others remain unresolved. We are no longer in a process of responding to the Americans. They have given their response, and we consider it insufficient.”
This statement is the rhetoric of an official and not a confirmed market fact: it gives no numerical indication of any effective closure of the strait, nor any decision timeline. It nonetheless comes in a context where Middle East tensions had already weighed on oil prices, as noted in the briefing of October 9, 2026.
Agenda: third-quarter bank earnings on Tuesday
Two major US banks have themselves confirmed the schedule for their third-quarter 2026 earnings, due Tuesday, October 13, before markets open. Citigroup will release its results via press release around 8am (Eastern Time), followed by a call at 11am, according to its official announcement. Wells Fargo will release its own results around 7am (Eastern Time), with a conference call at 10am, according to its official release.
| Company | Release time (ET) | Call time (ET) |
|---|---|---|
| Citigroup | 8am | 11am |
| Wells Fargo | 7am | 10am |
These two releases open the third-quarter earnings season for major US banks, an event traders usually follow to adjust their positions on the financial sector, though this article does not offer a forecast on the expected results.
Frequently asked questions about the bond market closed for Columbus Day
Why does the bond market close while stock exchanges stay open?
SIFMA issues annual closure recommendations specific to the bond market for certain US holidays, including Columbus Day. These recommendations apply only to fixed income securities and do not affect stock exchanges, which follow their own calendar.
Which instruments are affected by this closure?
According to SIFMA, the closure covers trading in dollar-denominated fixed income securities, which includes Treasury bonds, corporate bonds, and commercial paper, in the United States, the United Kingdom, and Japan.
Does this change anything for a stock or CFD trader?
Stock exchanges and Treasury futures operate normally that day. However, the absence of cash bond quoting reduces certain reference points on rates, which can affect market reading for interest rate sensitive positions.
Has the Iranian statement on Hormuz already had a measured effect on markets?
No market figure directly tied to this October 11, 2026 statement is confirmed at this stage by a primary source. It is a rhetorical position taken by an Iranian official, distinct from a confirmed market fact.