Modestly weaker in Asia, then significantly weaker in Europe, with 10yr yields rising more than 8bps by the open (high yield = 1.468%).  MBS are down 3/8ths after an incredibly illiquid 1st hour.  Econ data didn't have a big impact.  This is all bigger-picture momentum/snowball/technical trading.

yields consolidated for the first two hours before breaking out to the high side.  Illiquidity surged in MBS and prices ticked down a bit more (2.5 coupons down 20 ticks or .625 on the day).  Baby bounce in the 10yr (down to 1.475 after hitting 1.494), but not taking anything for granted here.

A bit of panic on both sides of the market with stocks down 2.2%+ and 10yr yields at 1.50%.  MBS aren't happy and negative reprice risk is a reality.  No new news behind the move.

Huge losses after worst 7yr Treasury auction on record.  10yr hit 1.614 but is back to 1.50% now.  2.5 UMBS are trading around 103 (down 3/4ths of a point on the day), but liquidity is nowhere to be found.  Prices could settle anywhere within half a point of that.

After a token bounce, more weakness at the 3pm CME close.  Bonds effectively back in line with weakest levels.  No particular reason.  Stocks are in the same boat.