Bonds were only slightly weaker before the 9:30am NYSE open, but losses have been sharper since then. 10yr yields are up 3.6bps at 4.173 and MBS are down 7 ticks (.22). Lenders who priced before 9:45am are already seeing nearly 6 ticks (.19) of weakness. A few of the jumpiest lenders have been known to reprice for the worse in similar situations.
