In terms of domestic economic data and events, not much has happened today.  The key driver of morning gains was the reaction to Bank of England Minutes and comments from BOE Governor Mark Carney.  Long story short, all of the above turned out a bit friendlier than bond markets expected.  Both stocks and bonds then embarked on that familiar "QE-on" trading pattern where stock prices rise while bond yields fall as the persistence of easy money policies is seen to benefit both sides of the market.

Bonds rode that overnight wave into 10am.  This made for some solid morning gains in MBS, lifting Fannie 3.5s up to 102-22.  The 10:15-11:00am Treasury buying operation from the Fed marked the turning point for bonds, though it could have just as much to do with stocks rallying at the same time.  Whatever the case, the move was moderate and Treasuries remain in positive territory while MBS are currently unchanged from yesterday's latest levels.

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
98-24 : +0-00
FNMA 3.5
102-19 : +0-00
FNMA 4.0
105-23 : -0-01
2 YR
0.4675 : -0.0125
10 YR
2.4529 : -0.0131
30 YR
3.2458 : -0.0062
Pricing as of 7/23/14 12:48PMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
10:59AM  :  ALERT ISSUED: Bond Markets Bounce at Range Boundary; Negative Reprice Risk Increasing
9:30AM  :  Bond Markets Improve Into Domestic Session

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Victor Burek  :  "we just cant break 2.45"
Matt Hodges  :  "Very nice set up in the Day Ahead, MG. personally, i read into it a undercurrent of caution."
Matthew Graham  :  "FYI, we added a 'legend' on the econ calendar explain the star system as well as the historical data that some of you had asked about last week ("econ calendar archive"). Any feedback on the changes, send to"