• FN 4.5's down 8 ticks on the day at 100-08
  • 10yr tsy yield continuing to test 3.80 support
  • Either you've already seen reprices for the worse, or you will
  • but in a slightly longer time-frame, no major shift in trend.

Even as MBS and Treasuries have worsened further in recent minutes, they are not showing a clear disposition toward crossing into more significant levels of weakness.  For MBS, that's 100-06 in the 4.5, and for treasuries, 3.80 in the 10yr.

Charts tell all: