Despite some overnight strength, bonds have been selling steadily during domestic hours. MBS are down just over an eighth of a point on the day, but more than a quarter point from the AM highs. This isn't necessarily a reprice risk situation due to the timing of the weakness (most lenders saw enough of the weakness before their first rate sheet of the day). That said, jumpier lenders who priced earlier in the day could be getting antsy.
Despite some overnight strength, bonds have been selling steadily during domestic hours. MBS are down just over an eighth of a point on the day, but more than a quarter point from the AM highs. This isn't necessarily a reprice risk situation due to the timing of the weakness (most lenders saw enough of the weakness before their first rate sheet of the day). That said, jumpier lenders who priced earlier in the day could be getting antsy.
10yr yields are up 3.9bps at 4.637.