Would you tie up your money for five years and earn 1.26 percent the whole time? That’s pretty much where the $57 billion 5-year Treasury note auction went off yesterday. (Keeping things almost misleadingly simple, think about an investor buying a 30-year MBS that yields 2.75 or 3.00 percent… would you do that?) Will the pandemic be over in five years? Ever? Variants will be the name of the game, each one spreading faster but causing less harm, per an ER doctor I was chatting with recently. Everyone, and their brother, knows that LOs are out there adding value and wealth to clients despite the health care news. Advertising from college football bowl games may suffer due to infections… can’t have that, right? Rates are still historically low, in part due to the continued hit to economies from the pandemic despite high inflation rates. New COVID cases have skyrocketed, deaths stand at 5.4 million, companies in our business are considering cutting travel plans ahead of the conference season starting back up in January. The CDC is updating recommendations for COVID-19 control, shortening isolation restrictions from ten to five days for all U.S. citizens who test positive for the virus who are asymptomatic, though they should still wear a mask around others for a further five days. (Six days for the NBA.) And the CDC has endorsed a shorter quarantine period for the close contacts exposed to the virus. (During this seasonal quiet time the daily podcast is having some downtime but will return Monday, January 3. Earlier versions of the audio are available here; questions about interviews and sponsorships should be directed to Robbie Chrisman.)