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A hair weaker overnight with additional selling after data. MBS down 5 ticks (.16) and 10yr up 5bps at 4.373
A bit of resilience heading into Fed announcement. MBS down 2 ticks (.06) and 10yr up 4.3bps at 4.365
very small, friendly reaction to Fed. MBS down 1 tick (.03) and 10yr up 2.6bps at 4.348
Weaker after Powell press conference. MBS down 5 ticks (.16) and 10yr up 5.3bps at 4.374
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In not so many words, bonds aren't getting the dovishness they were hoping for from Powell. MBS just gave up all of the day's rebound and are back down 5 ticks (.16) on the day and 6 ticks (.19) versus the post-FOMC highs.
10yr yields are up 5.6bps at 4.377.
Lenders who repriced for the better this afternoon could be considering negative reprices. Most any other lender was seeing similar MBS prices this morning when they set rates (thus limiting reprice implications).