Stronger overnight as stocks continue tanking. MBS up 3 ticks (.09) and 10yr down 2.7bps at 4.208
Weakest levels of the day. MBS nearly unchanged and 10yr still down 1.3bps at 4.223
Some month/quarter end buying at 3pm helping a modest recovery. 10yr down 0.3bps at 4.232. MBS unchanged.
MBS continue losing ground at roughly the same pace noted in the previous alert. This alert is just an amplification of the negative reprice risk. Several lenders have already pulled the trigger. More will likely follow.
MBS are down only 1 tick (.03) on the day, but nearly 6 ticks (.19) from rate sheet print times.
10yr yields are now up 0.7bps on the day at 4.242.