Decent Gains With Some Help From 7yr Auction

Decent Gains With Some Help From 7yr Auction You know it's a holiday with an early closure if we're talking about a 7yr Treasury auction having an impact on the bond market. To be fair, 7s have had an impact once or twice in the past, but the bar is certainly high. The holiday calendar makes the bar a bit lower as fewer determined traders are required to move the whole pile. Such was the case after the 11:30am ET auction. Bonds were already in good shape before that, but the earlier gains were more incidental than data-driven. Econ Data / Events Continued Claims (Dec)/13 1,923K vs -- f'cast, 1897K prev Jobless Claims (Dec)/20 214K vs 223K f'cast, 224K prev Market Movement Recap 08:31 AM Unchanged overnight and no reaction to claims data.  MBS unchanged and 10yr down 1/10th of a bp at 4.165