Whether or not next week's Fed announcement proves to bring a winter storm for bond markets remains to be seen.  That said, if anything is going to do the trick, that's the best chance we have.  Between now and then, bonds aren't quite sure what to do with themselves, as evidenced by their relative absence of movement today.

It wasn't as if bonds simply ended unchanged after being much higher and lower on the day.  There just wasn't much movement in either direction.  The only temporary exception was seen in the morning hours before the domestic open in response to the European Central Bank's announcement and subsequent Mario Draghi press conference.  As soon as European markets closed for the day, bond yields quickly returned to pre-ECB levels and drifted sideways into the close.


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 4.0
101-02 : +0-02
Treasuries
10 YR
2.9110 : +0.0000
Pricing as of 12/13/18 7:11PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:12PM  :  Decent 30yr Bond Auction Helping Bonds Turn Green
8:37AM  :  Little-Changed After Morning Data

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matthew Graham  :  "if 10's are close to, or under 2.92%, then yes, ES"
E S  :  "Seems we are still just flat lining to next week MG...Yes?"
Oliver Orlicki  :  "B+/A-"
Matthew Graham  :  "RTRS - PRIMARY DEALERS TAKE 22.06 PCT OF U.S. 29-YEAR 11-MONTH BONDS SALE, DIRECT 11.53 PCT AND INDIRECT 66.42 PCT"
Matthew Graham  :  "RTRS - HIGH YIELD AT LATEST 29-YEAR 11-MONTH BOND SALE WAS LESS THAN 1 BASIS POINT BELOW ITS 1 P.M. WHEN-ISSUED LEVEL - REUTERS DATA"
Matthew Graham  :  "RTRS - U.S. 29-YEAR 11-MONTH BOND BID-TO-COVER RATIO 2.31, NON-COMP BIDS $4.19 MLN"
Matthew Graham  :  "RTRS - U.S. SELLS $16 BLN 29-YEAR 11-MONTH BONDS AT HIGH YIELD 3.165 PCT, AWARDS 5.35 PCT OF BIDS AT HIGH"

Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Dec 13
8:30 Export prices mm (%)* Nov -0.9 -0.1 0.4
8:30 Import prices mm (%)* Nov -1.6 -0.9 0.5
8:30 Jobless Claims (k) w/e 206 225 231
8:41 Draghi Press Conference *
13:00 30-Yr Bond Auction (bl)* 16