Losing ground in choppy trading as oil rebounds. MBS down a quarter point and 10yr up 4.2bps at 4.389
weakest levels. MBS down 11 ticks (.34) and 10yr up 6.2bps at 4.409
Off lows, but choppy. MBS down 5 ticks (.06) and 10yr up 2.6bps at 4.373
Bumpy 2 year Treasury auction causing weakness. MBS down 3/8ths again and 10yr up 7.2bps at 4.42
2yr Treasury auctions rarely hit the longer end of the bond market, but today's is an exception. Around the same time, there were also headlines regarding troop deployments to Iran.
MBS are now down more than 3/8ths of a point (weakest levels of the day). Same story with 10yr yields, up 7bps at 4.417 (weakest levels).