Presidents' Day Shows No Market Holiday Edge

U.S. stock and bond markets are closed on Presidents' Day (Washington's Birthday), with NYSE and Nasdaq closed on Presidents Day in 2026 and trading resuming the next day. Backtests of two strategies—entering Thursday-to-Friday and Friday-to-Tuesday around the holiday—returned average losses of 0.15% and 0.3% per trade (48% post-holiday win rate), indicating no consistent holiday trading advantage.