No major reaction to ISM data. MBS down 2 ticks (.06) and 10yr up 1.9bps at 4.101
Off the weakest levels. MBS down 2 ticks (.06) after being down more than an eighth earlier. 10yr up 2.8bps at 4.109 after hitting 4.117 earlier.
Weakest levels of the day. 10yr yields up 3.8bps at 4.12 and MBS down 6 ticks (.19) on the day.
Bonds have been sliding into weaker territory after the 3pm CME close with 10yr yields up 3.8bps at 4.12 and MBS down 6 ticks (.19) on the day.
Any lender that priced before 10:15am is seeing at least an eighth of a point of weakness in 5.0 coupons. This is enough for some of the jumpier lenders to consider negative reprices.