The last few highlighted comments at the bottom of this page tell the story of the late-day headlines.  The first one caught markets' attention:

RTRS- EU, GREECE COME TO AGREEMENT IN PRINCIPLE, MEETINGS TO CONTINUE-CNBC

And a few minutes later, the rest of the wires simply made for comedy and frustration:

RTRS- EUROGROUP SOURCE TELLS REUTERS NO "DEAL" YET WITH GREECE, MAY BE
AN AGREEMENT TO EXPLORE POSSIBILITY OF EXTENDING BAILOUT PROGRAMME

RTRS - SECOND EUROGROUP SOURCE SAYS GREECE AGREES IN PRINCIPLE TO MEET ITS FINANCIAL OBLIGATIONS IN DRAFT COMMON STATEMENT

RTRS - GREEK GOVT OFFICIAL SAYS NO AGREEMENT IN EUROGROUP, GREECE WILL NOT ACCEPT AN EXTENSION OF CURRENT BAILOUT

RTRS - GREEK OFFICIAL SAYS EUROGROUP DISCUSSIONS TO CONTINUE, AIMING AT MUTUALLY BENEFICIAL AGREEMENT

Translation: no new agreement or extension--just a bunch of meaningless headlines that serve no purpose other than mildly spooking a mildly anxious market. 

After all, we've been eying 2.04% in 10yr yields as an important inflection point, and from a pre-headline level just over 2.0%, the headlines never pushed 10's higher than 2.028.  That's not even very interesting, and basically in line with the day's pre-auction high yields.  That said, the timing of the news could certainly have played into the lack of market response--not to mention the most meaningful headline was quickly retracted.

If the initial, mild reaction is any guide, there are no surprises in the direction of the move.  The friendlier Greece is with the Eurozone, the worse it is for domestic bond markets.  I think more than a few market participants fancied a higher likelihood of Greece exiting the Eurozone this time around, and if these headlines tell us anything it's that both sides are trying to avoid that.  Net/net, the implication is negative for bond markets, or at least there's a risk of further negative interpretation heading into tomorrow's European session.


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 3.0
101-19 : -0-03
FNMA 3.5
104-16 : -0-03
FNMA 4.0
106-20 : -0-01
Treasuries
2 YR
0.6720 : +0.0160
10 YR
2.0210 : +0.0170
30 YR
2.5880 : +0.0060
Pricing as of 2/11/15 5:28PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
4:43PM  :  ALERT ISSUED: Negative Reprices Now Likely
3:47PM  :  ALERT ISSUED: MBS Bouncing at Lows, but Negative Reprice Risk is Close
12:55PM  :  10yr Auction Preview
11:02AM  :  ALERT ISSUED: Path of Least Resistance is Higher For Treasuries; MBS Outperform
9:34AM  :  Markets Paralyzed in Anticipation of--Well--Any Eurogroup Headline, Really

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Matthew Graham  :  "RTRS - GREEK OFFICIAL SAYS EUROGROUP DISCUSSIONS TO CONTINUE, AIMING AT MUTUALLY BENEFICIAL AGREEMENT"
Matthew Graham  :  "RTRS - GREEK GOVT OFFICIAL SAYS NO AGREEMENT IN EUROGROUP, GREECE WILL NOT ACCEPT AN EXTENSION OF CURRENT BAILOUT"
Matthew Graham  :  "RTRS - SECOND EUROGROUP SOURCE SAYS GREECE AGREES IN PRINCIPLE TO MEET ITS FINANCIAL OBLIGATIONS IN DRAFT COMMON STATEMENT"
Matthew Graham  :  "RTRS- EUROGROUP SOURCE TELLS REUTERS NO "DEAL" YET WITH GREECE, MAY BE AN AGREEMENT TO EXPLORE POSSIBILITY OF EXTENDING BAILOUT PROGRAMME"
Matthew Graham  :  "EUR/USD saying "meh" too"
Matthew Graham  :  "whopping .014 move in in EUR so far."
Andy Pada, Jr.  :  "I say "meh""
Matthew Graham  :  "RTRS- EU, GREECE COME TO AGREEMENT IN PRINCIPLE, MEETINGS TO CONTINUE-CNBC"
Matthew Graham  :  "RTRS - FUTURES ADD TO GAINS AFTER CNBC REPORTS GREECE TO STAY IN BAILOUT PROGRAM"
Gus Floropoulos  :  ""in principle""
Gus Floropoulos  :  "they have come to a prelim. agreement"
Ted Rood  :  "So they're considering the possibility of potentially issuing a statement that might outline an eventual proposed solution?"
Matthew Graham  :  "4 whole hours huh?"
Matthew Graham  :  ""Ministers in an emergency meeting of the Eurogroup were concluding four hours of discussions on what Greece is proposing and expected to publish a common statement setting out hopes for a deal to be reached at a further meeting in Brussels on Monday.""
Matthew Graham  :  "RTRS- EURO GROUP MEETING ON GREECE CONCLUDING, COMMON STATEMENT BEING DRAFTED, TO BE PRESENTED SHORTLY -OFFICIALS, DIPLOMATS"
Gus Floropoulos  :  "So todays auction was a success, and all it's done is buy us time. "