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logically stronger overnight and holding gains steadily so far. MBS up almost 3/8ths and 10yr down 5.2bps at 4.244
MBS up 5 ticks (.16) but down a quarter point from highs. 10yr down 2.8bps at 4.268, but up more than 3bps from lows.
No reaction to 10yr auction or Fed minutes. MBS up 6 ticks (.19) and 10yr down 2.2bps at 4.274
New lows. MBS just barely better than unchanged, and same story for 10yr yield at 4.293
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Bonds continue sinking as the ceasefire is called into question by Iran. 10yr now unchanged on the day and MBS getting close (up only 2 ticks or 0.06). This is more than a quarter point below many lenders' rate sheet print times, thus making negative reprices increasingly likely.