Stronger overnight with some additional gains after ADP data. MBS up 6 ticks (.19) and 10yr down 4.8 bps at 4.091
MBS up 3 ticks (.09) but down an eighth from AM highs. 10yr down 1.5bps at 4.125 but up 4bps from AM lows.
Off the weakest levels. MBS up an eighth and 10yr down 2bps at 4.119
Bonds have been gradually selling off for the past 25 minutes. 10yr yields are still down 1.1bps on the day, but up to 4.13 versus lows of 4.08+.
MBS are still up 2 ticks (.06) on the day, but down an eighth of a point from AM highs. Because those highs were fairly consistent during lender rate sheet print times, negative reprices are now becoming possible for the jumpiest lenders.