Does the US bond market close early on New Year's Eve?
The short answer
Yes. SIFMA recommends an early close at 2:00 p.m. Eastern Time (7:00 p.m. UTC) on December 31 for US dollar-denominated fixed income trading, followed by a full market close on January 1. These are recommendations, not rules.
What the schedule says
According to SIFMA's holiday schedule, the early close on Wednesday, December 31, 2025 is at 2:00 p.m. Eastern Time, ahead of the New Year's Day full close on Thursday, January 1, 2026. The same pattern is listed for the following year: an early close at 2:00 p.m. Eastern Time on Thursday, December 31, 2026, and a full close on Friday, January 1, 2027.
SIFMA's December 12, 2025 press release confirms the 2:00 p.m. EST early close on December 31, 2025 and the full close on January 1, 2026 for US dollar-denominated fixed income securities.
What the early close covers
SIFMA says its recommendations apply to trading of US dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds, and secondary money market trading in bankers' acceptances, commercial paper and Yankee and Euro certificates of deposit.
SIFMA states that the early close does not affect the closing time for settlements.
Recommendation, not a rule
SIFMA describes its recommended early and full market closes as recommendations only: each member firm decides for itself whether its fixed income departments remain open for trading, and all recommendations are subject to change due to market conditions.
The sources above do not give a separate early-close time for exchange-traded Treasury or bond products; the NYSE early-close list does not include December 31.
| Date | Early close (US Eastern) | Early close (UTC) |
|---|---|---|
| Wed, Dec 31, 2025 | 2:00 p.m. ET | 7:00 p.m. UTC |
| Thu, Dec 31, 2026 | 2:00 p.m. ET | 7:00 p.m. UTC |
Questions
What time does the bond market close on New Year's Eve?
SIFMA recommends a 2:00 p.m. Eastern Time early close on December 31, which is 7:00 p.m. UTC.
Is the bond market closed on New Year's Day?
Yes. SIFMA recommends a full market close on January 1 for US dollar-denominated fixed income trading.
Is the New Year's Eve early close mandatory?
No. SIFMA's early and full closes are recommendations only, and each member firm decides whether its fixed income departments remain open.
Does the early close change settlement times?
No. SIFMA states that the early close does not affect the closing time for settlements.
Sources
- SIFMA Holiday Schedule
- SIFMA press release, December 12, 2025
- SIFMA press release, December 17, 2025
- NYSE Hours & Calendars
Checked against these official sources on October 22, 2026 by the Kairotick team. Rules and schedules change; check the source before you rely on a detail.
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