MBS AFTERNOON: Down Again, fairly hard...

4.5's just shot down abruptly from 101-14 to 101-02.  This is 9 ticks down on the day and 24 ticks down from the open.  This is likely an outlying trade and will correct itself shortly, but lenders may play it safe and reprice for the worse again.  I know it sounds crazy, but these are still acceptable losses to float with if you can make it to mid-jan.