Surging bond yields have pulled the Nasdaq into negative territory for the month heading into today's December jobs report.

Investors in the futures options market are betting the benchmark U.S. 10-year Treasury yield is headed higher to 5% in the near term, reflecting worries that the incoming Trump administration's policies will increase an already bloated fiscal deficit and revive inflation.

Trading in the U.S. bond market ended early, at 2 p.m. New York time, and U.S. stock markets were closed for the entire day to mark former President Jimmy Carter’s memorial. Whe

Bond markets will be open, but for reduced hours, closing early at 2 p.m. ET, according to a recommendation from the Securities Industry and Financial Markets Association. Carter's remains will be taken to the Washington National Cathedral in Washington,

Stock market closures are rare outside of regular holidays. Other events that closed the market include Hurricane Sandy and the September 11 attacks.