MBS UPDATE: Lows Of The Day

As we enter the traditionally most thinly-traded time of day for MBS, the weakness is apparent.

We'll revisit the long term technical analysis in tonight's closing post, but it does indeed look like we have "crossed over."

Treasuries are off a cliff on the long end with the 10 yr now down 23 ticks, bring the yield up to 3.531.

4.0 MBS are down 12 to 99-02 while 4.5's are down 11 to 101-03.

Ginnie 4's are down similiar amounts with the 4.0 at 98-30 and 4.5 at 101-05.

Yet more reprices may be on the way...