It's been a slow burn for bonds after this morning's stronger econ data, so this is more of a periodic update on the proliferation of damage than an "alert" in response to some new development.
Over the past hour, MBS have moved from being down a bit less than 3/8ths of a point to being down a bit more than 3/8ths. To be fair, 5.5 coupons are more aligned with rate sheets at this point and they're only down a bit more than a quarter point. But any way you slice it, these are the weakest levels of the day and negative reprice risk remains.
