It's a sign of the times that the only conversations on MBS Live's MBS Community pertain to this morning's Encompass outage. Actually, it's a sign of the season. Officially, the bond market closes early at 2pm ET today.  Unofficially, Happy New Year and we'll see you next week! Volume and liquidity are extremely low and should remain that way barring a major surprise.  Even without a surprise, movement is possible simply due to illiquidity (here's why), but it wouldn't have an implication for next week's momentum.  

Unless something truly interesting happens, there will not be a recap this afternoon.  Happy New Year!