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Reprice Risk Increasing Again After Fed Buying

MBS are at new lows for the day and we can almost set a clock to the losses seen after the Fed's last buying operation on any given day (the time would be 1:20pm, by the way).  

It's 1:27pm now and we just burned through another 3 ticks of 2.5 UMBS in that 7 minute window.  Jumpier lenders are increasingly likely to reprice here.  Modest reprice risk for others.

10yr yields are still slightly positive on the day.

MBS / Treasury Market Data

UMBS 5.5
98.72
+0.25
UMBS 6.0
100.39
+0.19
UMBS 6.5
101.81
+0.11
2 YR
4.7163
-0.0249
10 YR
4.3602
-0.0724
Pricing as of: 7/3 5:59PM EST
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