Bonds have been losing ground slowly this morning after opening at sharply stronger levels. MBS are down 5 ticks (.16) from the highs of the morning and some lenders are seeing an eighth of a point of weakness since rate sheet print times.
Negative reprices are rare in this scenario, but they could technically be justified by jumpy, early lenders.
MBS are still up nearly 3/8ths on the day and 10yr yields are down 5.6bps at 4.503.
Bonds have been losing ground slowly this morning after opening at sharply stronger levels. MBS are down 5 ticks (.16) from the highs of the morning and some lenders are seeing an eighth of a point of weakness since rate sheet print times.
Negative reprices are rare in this scenario, but they could technically be justified by jumpy, early lenders.
MBS are still up nearly 3/8ths on the day and 10yr yields are down 5.6bps at 4.503.