Modestly weaker overnight with some pressure from Amazon bond announcement. 10yr up 1.8bps at 4.488 and MBS down 3 ticks (.09).
More selling (some related to 9:30am NYSE open and some due to Hormuz news). 10yr up 3.8bps at 4.508 and MBS down a quarter point.
10yr up 5.3bps at 4.523 and MBS down 10 ticks (.31).
*US IS REVOKING IRAN-RELATED GENERAL LICENSE TO EXPORT OIL
*IRAN'S ACTIONS IN STRAIT OF HORMUZ WHOLLY UNACCEPTABLE: OFFICIAL
Following these newswires, oil prices went even higher and bond yields have been highly correlated today. 10yr yields are now up 6bps at 4.531. MBS are down 3/8ths on the day and a quarter point from many lenders' rate sheet print times.
Negative reprices are now a stronger possibility compared to earlier in the day.