Friday 11/21 Morning Update

Currently the 5.5 is at 100-13 which is unchanged from going out levels yesterday. 

We are seeing a value bid at the start of trading.  Currently 5 year US treasuries are down 17 ticks, and 10 yr treasury down 32 ticks after the biggest buy up in history for the treasury market.  This has caused spreads to widen to all time highs which is creating tons of tightening on the heels of that value creation yesterday.

No economic data today and with a shortened trading week next week due to Thanksgiving we will see a lot of volatility.  We will get back to you after the day gets going.  Stay tuned!!