Moderately stronger overnight and holding. MBS up 1 tick (.03) and 10yr down 1.3bps at 4.142
weakest levels. 10yr up 2.2bps at 4.177 and MBS now unchanged 5.5 coupons and down almost an eighth in 5.0 coupons.
Weakest levels of the day with MBS down 5 ticks (.16) and 10yr up 5.7bps at 4.213
MBS are now down almost a quarter point from the highs in 5.5 coupons and almost 3/8ths in 5.0 coupons. 10yr yields are up 5.2bps at 4.207 in a move that largely matches the cadence of the bounce in stocks.
Lenders are increasingly likely to be considering negative reprices and several have already pulled the trigger.