There are several "somethings" that could prove inspirational for bond markets at the moment.  The biggest among those continues to be any major shift in the stock market.  Specifically, if stocks move to threaten recent lows or challenge Oct/Nov highs, bonds would almost certainly be forced to follow. 

If stocks remain indecisive, bonds could take cues from other sources.  The most immediate candidate is "European markets" given that the ECB announcement is coming up tomorrow morning.  Beyond that, any major updates on the shutdown situation or China/US trade talks have already proven themselves capable of pushing bonds around.  

Europe helped US bond markets gain ground heading into the afternoon today (EU market close).  Stocks were even getting in on the action, but everything reversed course after European markets closed.  Stocks and bonds retraced about half of the move lower from the 9am highs.  This left 10yr yields up 1.1bps at the 3pm close at 2.752.  Fannie 4.0 MBS were 2/32nds (0.06) lower at the same time at 101-22 (101.68).


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
101-22 : -0-02
Treasuries
10 YR
2.7520 : +0.0200
Pricing as of 1/23/19 3:27PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:00AM  :  Bonds Bounce Back a Bit With Help From Europe and Stocks

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
John Paul Mulchay  :  "fairly substantial adjustment"
Matthew Graham  :  "not moving markets, but interesting"
Matthew Graham  :  "RTRS - BARCLAYS LOWERS U.S. Q1 GDP GROWTH VIEW TO 2.5 PCT FROM 3.0 PCT DUE TO U.S. GOVERNMENT SHUTDOWN"
E S  :  "JH, Home POssible Fact Sheet effective October 2018 http://www.freddiemac.com/singlefamily/factsheets/sell/pdf/home_possible_factsheet.pdf"
Shari Bell-Beals  :  "Home Possible does allow ownership of other properties; change in Nov, I believe was the timing."
Caroline Roy  :  "ok, so i had a realtor rant yesterday and i was going to leave it at that, but then i just died laughing last night. When i got home, my husband had on a classic rock station in his shop. when the DJ went to sign off, he said "just so you all know, i'm a licensed realtor and would love to help you with your home buying or selling needs!" Its official, literally everyone is a realtor here."
Spencer Packer  :  "JH, only with homeready. Not home possible."
Joseph Humphrey  :  "can you own another property (second home) and purchase with home possible?"

Economic Calendar
Time Event Period Actual Forecast Prior
Wednesday, Jan 23
7:00 MBA Purchase Index w/e 272.5 278.5
7:00 Mortgage Refinance Index w/e 1110.5 1172.4
9:00 Monthly Home Price yy (%) Nov 5.8 5.7
9:00 Monthly Home Price mm (%) Nov 0.4 0.3
Thursday, Jan 24
8:30 Jobless Claims (k) w/e 220 213
8:30 Continued jobless claims (ml) w/e 1.735 1.737