Bonds have been losing ground slowly and steadily so far this morning and although we're just barely weaker on the day, MBS are flirting with an eighth of a point of weakness compared to the AM highs. Because those highs coincided with many lenders' rate sheet print times, there is a modicum of negative reprice risk to consider (emphasis on modicum though, unless we lose a few more ticks/bps).
Bonds have been losing ground slowly and steadily so far this morning and although we're just barely weaker on the day, MBS are flirting with an eighth of a point of weakness compared to the AM highs. Because those highs coincided with many lenders' rate sheet print times, there is a modicum of negative reprice risk to consider (emphasis on modicum though, unless we lose a few more ticks/bps).