MBS Live Day Ahead: No Market Drama Surrounding Veto; Light Day

Bonds will close early today (2pm ET) and will be fully closed tomorrow.  Along with the Friday after Thanksgiving, this is typically the lightest trading day of the year.  Trump's veto of the defense spending bill raises the possibility of a shutdown on Monday, but Congress will be back in session to vote on overriding the veto on Monday afternoon.  It's unclear whether the senate would do the same.  Either way, the veto-related drama is of minimal concern to markets based on the movement we're seeing so far today.  

There is no significant economic data on tap.  

Bonds are starting the day sideways to slightly stronger.