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
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.