There are less than 14 minutes to go in today's holiday-shortened session, but bonds are back in line with their weakest post-data trading levels heading into the close. 10yr yields are up 1.1bps at 4.492 and MBS are 7 ticks (.22) below their intraday highs (though still a few ticks higher on the day).

Due to morning rate sheet print times, negative reprices aren't especially likely, but jumpier lenders could technically be considering it. The best way to use this alert is as a cue to lock if you were already planning on locking today (i.e. no point in holding out for a positive reprice).