It's Wait and See for Bond Traders

Holiday Gives Stock Investors First Crack at Digesting Latest on Financial Rescue

The bond market will have plenty to digest when it reopens for business Tuesday, as global leaders focus their efforts on injecting fresh capital into the world's ailing banks in a latest action to jump-start frozen credit markets.

The U.S. bond market is closed Monday in observance of the Columbus Day holiday. That means the stock markets will get the first crack at determining whether the latest pledges to shore up troubled financial institutions will be sufficient to stop the crash that shook the world last week.

"The bond market will take its cues from whatever equities do tomorrow," said ...