Treasuries are continuing to get hammered today.  Sellers have been much more prevalant today as the impending quarter end assures buyers they can wait until it's time to polish up the balance sheets to do their buying.  As has been the standard case in these treasury sell-off's, MBS are gradually tighter on the day, but cannot help being pulled down by Tsy's.  Stocks are just a few points in the green at the moment at 8038 on the dow after being as low as 7963 earlier.  The 10 Yr Tsy is at 2.82 at the moment, 18 ticks down on the day, and continuing to head up in yield.

In MBS Space, we may start seeing some reprices for the worse now.  4.0's are off 5 ticks to 100-05, and 4.5's are off 6 ticks to 101-30.  It a definite "up in coupon" day with 6.5's only 3 ticks off versus 3.5's slaughtered at 14 ticks off.

We'll revisit more charts later this afternoon, but the "trend shift" that AQ mentioned earlier could indeed be forming, and would sync up with other charts we've been tracking.  So expect a more "technical" post to follow.

For now though, it may be time for those indecisive deals to "lock if you got 'em."  Most lenders will probably reprice with MBS at these levels.