Heading into the close, the story of the day so far has been low volume, low volatility, low directionality, low variability, and low excitement. It's been quite a white since 7 consecutive hours have gone by in which the 10yr yield stayed within a 2bp range. But you'll be able to see that in the chart below, as well as the constant impact of the stock lever (blue and yellow lines moving in the same direction most of the time). MBS were slightly more variable than tsy's, but still a much more narrow range, capped by 100-29 after MBS fell to that level shortly after the open
We'll take a look at the Tuesday ahead in about an hour in MBS CLOSE. But between now and then, it seems quite safe to assume an appalling lack of anything interesting happening in the last hour of trade.