MBS Live Morning: Strong Start, But Not Reading Much Into It

3 hawkish central bank announcements on Wed/Thu have been no match for the bullish impulses at the end of the week.  These include but are not limited to burgeoning omicron concerns, positional considerations (asset allocation between stocks/bonds as well as a big contingent of "shorts" susceptible to being squeezed), and all of the above moving on greased skids due to "last week before x-mas holiday week" liquidity conditions.

Given the absence of data and the holiday-light volume/liquidity expectations, we're not reading anything into any of today's movement.