As the CME close ticks past (3pm ET), bonds are back near their weakest levels of the day. Factor out the brief post-auction spike and current levels are the worst.
Liquidity is better now as well, adding some gravity to the lows.
2.5 UMBS are down 7/8ths of a point at 102-30 (102.94).
10yr yields are up 15bps at 1.522%
If you haven't seen a reprice yet, you will. If you've seen one or two, you might see another.
