This is an amplification of the previous alert as bonds continue to struggle to push back against AM weakness. 10yr yields are up 3.2bps to the highs of the day at 4.502.
MBS are down an eighth on the day and quarter point from the average price during most lenders' rate sheet windows. Several lenders have already repriced, and the risk is increasing for those who haven't.
On the bright side, there's no new news driving these losses, and momentum looks to be leveling off at the moment.
