- Fannie 3.0s down 7 ticks on the day with 4 ticks (.125) from some rate sheet print times
- Lenders who priced before the highs (near 10-1015am) are at relatively no risk
- Still, the trend is not our friend at the moment
It's been a volatile morning for
On a more qualitative note, bonds simply look like they're under pressure here--bouncing in line with yesterday's high yields and moving higher with stocks and oil. The afternoon's 10yr auction doesn't advocate any speculative buying either. Bottom line: negative reprices couldn't be ruled out completely for a few lenders. Risks would be more pronounced if we lose another few ticks (Fannie 3.0s in the 101-28 area).