Bonds have been selling slowly and steadily all day. MBS are now down a quarter point in total and roughly 6 ticks (.19) from early lenders' rate sheet print times. Negative reprices are now becoming a stronger possibility for the jumpier lenders.
10yr yields are up 4.6bps at 4.421.
Last heads-up: 4pm ET could see another little pop of volatility at the quarterly-rebalancing cut-off.
