The Securities Industry and Financial Markets Association (SIFMA) recommended that fixed-income markets be open tomorrow, Wednesday, Oct. 31, for the trading of U.S. dollar-denominated fixed-income securities in the U.S., according to a statement published on the association’s Web site.
This includes trading of MBS, ABS, all government securities, both investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading and commercial paper.
SIFMA recommended closing markets early Monday and keeping them closed today as Hurricane Sandy ravaged the East Coast of the U.S. and flooded many parts of New York City and its financial district.
Financial markets, including the New York Stock Exchange have been closed today.
The Loan Syndications and Trading Association (LSTA) recommends treating today as a loan market holiday for purposes of calculating delayed compensation under the LSTA’s standard forms of trade confirmation, the association said in a statement.