Those who locked on the reprice alert are in good shape as most of our resources are indicating reprices for the worse.  And rather than have to tell you that the sell-off was temporary and artificial, we have indeed stayed in the red since FOMC.  Thankfully, we were so far ahead of lender reprices that any potential "lockers" should have made it to safety with time to spare.  There is solace for floaters too as prices are showing continued stability and even minute improvements in the low 100's range on 4.0's.

Currently, we're at 100-05 on the FN 30 Yr 4.0 and have not dipped below 100-00 on 4.0's since the initial announcement panic.  Also reassuring is that we have not reached pre-announcement levels on the upside, so we didn't get any major conflicting signals.

Stay tuned and we'll let you know if we move much from this 100-05 level on 4.0's between now and the close.  Barring that, we'll be back with you in an hour with closing prices/charts with detailed analysis of the day that was and day to come following shortly thereafter.