ISM Prices Paid rose to 77.9 from 71.1 previously. Bonds don't like it.
MBS are down just over an eighth of a point from early lenders' rate sheet print times and a quarter of a point on the day.
10yr up 5.1bps at 5.337.
Negative reprices can't be ruled out for early, jumpy lenders, but the market reaction is still playing out.
