Along with the Friday after Thanksgiving, Christmas Eve is typically the lightest trading day of the year. Today was no exception with both volume and volatility at a minimum. MBS mostly held inside a 1 tick (0.03) range, which is about as narrow as it gets. All this despite Trump's veto of the defense spending bill raising the possibility of a shutdown on Monday and the Brexit trade deal finally being confirmed.
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20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th)
Sideways overnight in extremely low volume and light trading. Nothing to be gleaned unless the level of activity changes drastically. 10yr yields down less than a bp and MBS up 1 tick (0.03).
This will be the last movement update of the day unless something impressive happens. Bonds have been almost perfectly flat and lifeless all day.
MBS Market Alerts
