The newswire: TRUMP’S GLOBAL TARIFFS STRUCK DOWN BY US SUPREME COURT
The initial reaction saw quick selling in bonds with 10yr yields rising from 4.07 to 4.10 instantly. There's been some push back already though and levels will likely be different by the time you read this (currently up 1.2bps at 4.088).
MBS are down an eighth of a point, but only 2 ticks (.06) since this news. As such, negative reprice risk is limited unless the selling picks back up.
