10yr yields already showed their lack of bullish conviction when it came time to challenge a floor at .72%. If anything the message was that additional rally momentum would be hard to come by as yields vaulted back up to .79. Today, they're showing more of a willingness to challenge overhead ceilings with yields already up to .83% after a stronger jobs report and updated vote counts in GA/PA. Thankfully and almost unbelievably, MBS CONTINUE to outperform at a never-before-seen pace.