Naughty Or Nice? UK/EU Brexit Deal, US $2K Stim Bill Shot Down

Tsy futures opened higher amid exceptionally light holiday volumes -- no substantive data, limited market participation alert for Brexit and/or Covid-related headline risk.

• Mixed Bag: Tsy futures see-sawed higher after $2k relief bill vote in House Blocked. "Could be voted on in a roll call vote on Dec 28, when a vote is planned to override the veto of the defense authorization bill" one desk notes. Equities holding mild gains. Incidentally -- House adjourns until Monday afternoon.
• Across the pond: UK/EU Agree Post-Brexit Deal Days Before Deadline: "Its been a long and winding road, but we have a fair agreement," von der Leyen said, stressing that the UK and the EU would remain "close and trusted" partners.
• Reminder, January serial ops expire Thursday, earlier than usual due to Christmas holiday early close Thursday, full close Friday. Decent amount of options coming off the sheets for a serial expiry though accts have been unwinding near strikes. Options 0.5 tic ITM (0.25 tic for 5-, 2-yr opt's) auto-exercised.
• The 2-Yr yield is up 0.2bps at 0.1189%, 5-Yr is down 0.3bps at 0.367%, 10-Yr is down 1bps at 0.933%, and 30-Yr is down 1bps at 1.671%.