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Weaker overnight and a bit more selling in the past few minutes. MBS down 5 ticks (.16) on the day and 3 ticks (.09) since rate sheets. 10yr up 4.8bps at 4.113
Best levels of the day in Treasuries with 10yr up only 3bps at 4.096. MBS down an eighth of a point.
A bit weaker after 30yr auction. MBS down 5 ticks (.16) and 10yr up 4.5bps at 4.111
New Lows. MBS down a quarter point and 10yr up 5bps at 4.114
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MBS are now down a quarter point on the day and 6 ticks (.19) from intraday highs. This is only 2 ticks (.06) lower vs the previous lows, but that's enough to increase negative reprice risk for the more reactive lenders.
10yr yields are also at their weakest levels, up 5.6bps at 4.121.
There is no new news driving the modest afternoon selling--just an incidental byproduct of late-day liquidity and position-squaring.