There as a moment of volatility right after the 5yr Treasury auction, but both 5yr and 10yr Treasuries are holding in line with the AM highs.
5.5 MBS are another 1 tick (.03) lower than the AM lows and have been flirting with an eighth of a point of weakness versus the 11am highs. Negative reprices are not yet justified by these losses. It would take another 2 ticks (.06) for that to change.
