First off, any examination of price movement today requires the caveat that none of it has any implication beyond the next few hours.  While volume is higher than yesterday, it's still extremely low overall and staffing levels are very light.

Bond markets were weaker overnight as Europe released some pent-up bearishness after 2.5 days off.  Treasuries followed but were able to turn the corner heading in to the domestic session.  MBS have improved steadily since then and that's all there is to it.

It would be a mistake to look for any cause and effect or to infer any sort of meaning behind any price movement this week, unless that meaning is the absence of meaning. 

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
FNMA 3.0
95-02 : +0-05
FNMA 3.5
99-13 : +0-04
FNMA 4.0
102-31 : +0-04
2 YR
0.3953 : -0.0117
10 YR
2.9907 : +-0.0003
30 YR
3.9230 : +0.0000
Pricing as of 12/27/13 11:24AMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:58AM  :  Bond Markets Back Into Positive Territory After Shaking Off European Influences
9:23AM  :  Back to Unchanged After Opening Weaker

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matt Hodges  :  "okay, i have a left field question... VA loan which will stop being paid in January (wife has stage 4 cancer and estranged husband has no job). i have a VA buyer, wants to buy at FC, or preferably short sale. Will the VA and/or the servicer look at a short sale with a new VA buyer any differently?"
Matt Hodges  :  "assumption isn't a possibility, as the payment is high... think its a 15 yer"
Wenyang Zhang  :  "Will the market be better next week?"
Ira Selwin  :  "Even next week may have low volume "
Ira Selwin  :  "due to the new years being mid-week."
Davidson Trisler  :  "If you have a rolling 30 day late is that counted as one late or multiple. "
Nathan Miller  :  "wf repricing, hopefully more to follow"
Eric Franson  :  "
REPRICE: Wells - Better