• 4.5's are now down "only" 12 ticks on the day at 100-20
• 10yr tsy now down "only" 31 ticks on the day, yield at 3.81
• Corner seemingly turned for today, but if you STILL haven't seen a reprice,they are coming.
  

3.85 is a good turning point for the 10yr and has been very much the object of our affections as far as being regarded as the topside of the range.  So it's more likely that we don't see another poke back over 3.85 today. 

MBS have trounced treasuries all day, and especially into the sell-off.  That "ledge-ish" sort of section around 100-18 corresponds with a major pivot point that we'll show you later today.  Closing above there means we won't be breaking it.  And that's a good thing from a technical standpoint. 

Most everyone has repriced.  If you haven't seen one, either you're looking at an anomalous situation or you will see one soon.  They're ranging anywhere from .125 to .625 and maybe higher?