Bonds are selling off to the weakest levels of the day for debatable reasons (GDP Now update showing 4.6 vs 3.8 prev, perhaps? But that seems like a stretch).
10yr yields are quickly up 5 bps at 4.456 and MBS are down nearly a quarter point. Fortunately, most lenders were out with rates before the 10am rally and are thus only now seeing about an eighth of a point of weakness. Lenders who priced after 10am are at more risk of repricing.
