fairly flat overnight and moderately stronger after CPI data. MBS up 11 ticks (.34) and 10yr down 4.1bps at 4.383
AM rally ebbing since 930am. MBS still up a quarter point, but down nearly as much from the highs.
Weakest levels since before AM data. MBS still up 3 ticks (.09). 10yr up 3.4bps at 4.458
MBS up 6 ticks (.19). 10yr up 2.5bps at 4.449
Bonds continue selling off in a measured, linear fashion. 10yr yields are now up 3.2bps on the day at 4.456. MBS are up 3 ticks (.09), outperforming due to yield curve trading (i.e. shorter durations doing better).
Despite the outperformance, this is more than a quarter point below the AM highs and at least an eighth of a point below almost every lender's rate sheet print time. Jumpy lenders are increasingly likely to be considering negative reprices.