Sideways to slightly stronger and a modestly positive reaction to the 8:30am data. MBS up an eighths and 10yr down 1.34bps at 4.252
MBS down an eighth of a point and 10yr up 1.3bps at 4.278
flattening out at weakest levels. MBS still down an eighth and 10yr up 1.9bps at 4.284
MBS are down more than an eighth on the day and more than a quarter point from most lenders' rate sheet print times. Negative reprices are now likely.
Bond yields and oil prices have both been moving higher since 10am ET