Good Tuesday AM,

Bonds are doing well this morning on very light volume. Data out today shows home prices increased 18% on a national basis last year. The point is that we should not get too excited when there is not enough volume in the market to back up the price action. It does make the charts look encouraging though. The ten-year yield just slid below the 21 day moving average at 1.47%, and below an upward trend that we have been in all month. Again, it’s a light news week and light trading week, so just relax. Remember though, we can get some wild price swings when volume is light. They do not mean much.

CDC reduced the recommended isolation period for people infected with Covid-19 (omicron) to five days from 10. The new guidance reflects growing evidence that people with the virus are most infectious one to two days before the onset of symptoms and two to three days afterward.

Please remain safe and healthy, Happy Holidays, make today great.