Although it depends on the lender, to some extent, negative reprices are now becoming likely, with Fannie 3.5s down as much as a quarter point from some lenders' rate sheet print times.  10yr yields have spiked back up into their overnight range, up 2.7bps on the day at 2.324.  

Comments from Fed's Dudley are the only market mover in the immediate vicinity of this selling pressure.