Past examples of Thanksgiving weeks vary when it comes to market behavior.  There's no major bias toward gains or losses and the volatility doesn't tend to inform the following week's trading.  If anything, Thanksgiving weeks have been slightly more likely than not to result in a quick dip or spike that is subsequently unwound in the following week.  All that to say that chances are higher that we'll see some sort of break, but history suggests it might not be too meaningful.

Wednesday handily outclasses Tuesday in terms of volatility potential, but neither of the remaining two days even come close.  During those two days alone, the volume of economic reports and other scheduled events is higher than some entire weeks.  The market closure pushes to Wednesday everything that would have happened on Thursday and some of what would have happened on Friday.

Markets are, of course, closed on Thursday for Thanksgiving and open for a half day on Friday (2pm Eastern). 


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
100-10 : +0-00
FNMA 3.5
103-21 : +0-00
FNMA 4.0
106-15 : +0-00
Treasuries
2 YR
0.5170 : +0.0119
10 YR
2.3280 : +0.0163
30 YR
3.0300 : +0.0109
Pricing as of 11/24/14 7:30AMEST

Tomorrow's Economic Calendar
Time Event Period Forecast Prior
Monday, Nov 24
13:00 2-Yr Note Auction (bl)* 28
Tuesday, Nov 25
9:00 CaseShiller 20 mm nsa (%)* Sep 0.2 0.2
9:00 Monthly Home Price mm (%) Sep 0.5
10:00 Consumer confidence * Nov 96.0 94.5
13:00 5-Yr Note Auction (bl)* 35
Wednesday, Nov 26
7:00 Mortgage Market Index w/e 391.3
8:30 Personal consump real mm (%)* Oct -0.2
8:30 Personal income mm (%) Oct 0.4 0.2
8:30 PCE price index mm (%)* Oct 0.1
8:30 Durable goods (%)* Oct -0.6 -1.1
8:30 Initial Jobless Claims (k)* w/e 288 291
9:45 Chicago PMI * Nov 63.0 66.2
10:00 New home sales-units mm (ml)* Oct 0.471 0.467
10:00 Pending homes index Oct 105.0
11:30 7-Yr Note Auction (bl)* 29
Thursday, Nov 27
0:00 Thanksgiving Day *