Initially stronger early in the overnight session, then selling steadily. MBS down just over an eighth of a point. 10yr up 2.2bps at 4.232
Weaker into the PM hours but leveling off now. MBS down an eighth on the day and 10yr up 1.5bps at 4.227
10yr yields are up 6.5bps at the highs of the day (4.276). MBS down 10 ticks (.31)
MBS are now down more than a quarter point on the day (10 ticks or 0.31) after headlines regarding truce talks between Ukraine and Russia. Most lenders are seeing at least an eighth of a point of weakness now, so the jumpier crowd could be closer to repricing.
10yr yields are up 6.5bps at the highs of the day (4.276).