The Securities Industry and Financial Markets Association has recommended that bond markets open as usual Monday.
In a statement released Sunday SIFMA said it “is not recommending any changes to the trading of US dollar-denominated fixed-income securities in the United States on Monday…” after Hurricane Irene swept through the Northeast without substantial damage to New York City.
SIFMA said that if conditions change, it “will alert the market to any changes to this recommendation as soon as possible.”
The recommendation applies 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 said each member firm should decide for itself whether its fixed-income departments open for trading.
Other financial markets, including the New York Stock Exchange, also were planning normal operations Monday despite concern that mass transit in the New York metro area wasn’t expected to be operating as usual during the morning rush hour.
The Securities Industry and Financial Markets Association has recommended that bond markets open as usual Monday.
In a statement released Sunday SIFMA said it “is not recommending any changes to the trading of US dollar-denominated fixed-income securities in the United States on Monday…” after Hurricane Irene swept through the Northeast without substantial damage to New York City.
SIFMA said that if conditions change, it “will alert the market to any changes to this recommendation as soon as possible.”
The recommendation applies 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 said each member firm should decide for itself whether its fixed-income departments open for trading.
Other financial markets, including the New York Stock Exchange, also were planning normal operations Monday despite concern that mass transit in the New York metro area wasn’t expected to be operating as usual during the morning rush hour.
