While some lenders just set a conservative rate sheet and clock out on New Year's Eve, any lender that's paying attention is increasingly likely to be considering negative reprices.
Month end trading is causing some quick but moderate losses with 5.5 coupons now down a quarter point on the day. Most lenders are seeing at least 10 ticks of weakness (.31). 10yr yields are up 4bps at 4.58. Notably, 2yr yields are down 1.3bps (which is more evidence of curve trading and "positioning" being a driver as opposed to econ data or news).
