From embarrassing domestic restrictions to more emerging situations overseas, news from omicron dealt a blow to the stock markets today and led to a moderate rally in safe-haven stocks. As such, the Treasury market performed well and MBS followed these paths without incident. Movements may have been a bit larger than they might otherwise have been due to a lower volume profile typical of December Mondays. The biggest volatility revelations remain tied to Wednesday’s Fed announcement.


Moderately louder at night. Weaker opening in Asia, then steady gains everywhere. 10 years down 1.2bp to 1.47%. MBS up to 2 ticks (0.06).


Further gains as bond yields follow the decline in equities. 10 years down almost 6 basis points to 1.424 and 2.5 UMBS up almost a quarter of a point.


Flat at stronger levels all day. No major changes since the last update. Very low volume