The 9:30am NYSE open occasionally results in a pop of volume and volatility in the bond market and today is one of those occasions.
10yr yields are quickly up 2 bps to 4.359 and MBS are down a quick eighth of a point vs 9:30am levels. Jumpy lenders who were already out with rates could technically justify a negative reprice, but most lenders have yet to price.
The 9:30am NYSE open occasionally results in a pop of volume and volatility in the bond market and today is one of those occasions.
10yr yields are quickly up 2 bps to 4.359 and MBS are down a quick eighth of a point vs 9:30am levels. Jumpy lenders who were already out with rates could technically justify a negative reprice, but most lenders have yet to price.