Bonds have been gradually selling off for the past 25 minutes. 10yr yields are still down 1.1bps on the day, but up to 4.13 versus lows of 4.08+.
MBS are still up 2 ticks (.06) on the day, but down an eighth of a point from AM highs. Because those highs were fairly consistent during lender rate sheet print times, negative reprices are now becoming possible for the jumpiest lenders.
