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Weaker overnight after peace deal impasse. MBS down a quarter point and 10yr up 2.6bps at 4.381
weakest levels with 10yr up 4.6bps at 4.401 and MBS down almost 3/8ths
some support after hitting weakest levels. MBS down 11 ticks (.34) and 10yr up 4.8bps at 4.403
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Bonds have been selling off slowly and steadily this morning, but the past few minutes have seen a modest acceleration. 10yr yields are up 5bps at the highs of the day (4.405). MBS are down 3/8ths on the day with just over an eighth of a point of that drop happening after the AM highs. Because those highs correspond with many lenders' rate sheet print times, this introduces some negative reprice risk.