10yr yields are still down 1.3bps on the day at 4.679 but that's up more than 3bps from the post-data lows.

Selling has been fairly steady but accelerated a bit after the 9:30am NYSE open as accounts sold both stocks/bonds simultaneously (a thing that sometimes happens, either in response to Fed rate expectations or due to risk parity trading). There were also a few block trades that came through around the same time.

The net effect for MBS is an eighth of a point drop from the AM highs, which incidentally coincide with some lenders' rate sheet print times. It's probably a bit early to guarantee reprice risk, but we're right on the edge for the jumpiest lenders. Another tick or two of weakness would make it a bigger risk (obviously).