The FN 4.0 is currently 0-10 at 97-21 yielding 4.241% while the FN 4.5 is trading -0-09 at 100-11 yielding 4.461%. The secondary market current coupon is 4.428%.

Here is the FN 4.5 two day...

To be honest,rates  have been doing as they please over the past few hours, completely ignorant of the activities in the equity markets. That said, there isnt much left to do for the rest of the day besides watch what stocks do and wait for tomorrow's TSY auctions.  I would not be surprised to see benchmark TSY yields testing the highs of the day.....which means MBS prices may fall back towards the lows of the day.

Stay on REPRICE FOR THE WORSE watch...

WHOMP WHOMP