While some lenders are still repricing for the better in response to AM gains, other are at risk of negative reprices if their rates came out at 11am ET or later. 5.5 coupons are down roughly a quarter point from the most recent highs and 10yr yields are up 7.4bps at 4.247.
The catalyst was a series of comments regarding a softer trade deal with China around 1:40pm ET.
