Bonds pushed into modestly positive territory to start the day, but have been giving up gains in the 10am hour. 5.5 UMBS are only down 2 ticks (.06) on the day, but that's 5 ticks (.16) below the AM highs. Lenders that released rate sheets during those highs could already technically justify a negative reprice.
10yr yields are up 2bps at 4.263.
