Once again, the 9:30am NYSE open has proved problematic for the bond market with modest overnight weakness giving way to more forceful selling over the past 10 min.
10yr yields are up another few bps for a total of 4bps on the day at 4.632.
MBS are down a quick 6 ticks (.19) on the day and at least an eighth of a point from AM highs. This isn't necessarily an intraday reprice risk situation, but could be a consideration for those of you who still have access to lock yesterday's rates.
Once again, the 9:30am NYSE open has proved problematic for the bond market with modest overnight weakness giving way to more forceful selling over the past 10 min.
10yr yields are up another few bps for a total of 4bps on the day at 4.632.
MBS are down a quick 6 ticks (.19) on the day and at least an eighth of a point from AM highs. This isn't necessarily an intraday reprice risk situation, but could be a consideration for those of you who still have access to lock yesterday's rates.