2.5 UMBS are at new lows for the day, down an eighth overall and .19 from the highs. Jumpier lenders may be considering negative reprices, but it would take more weakness for the average lender to get involved. 10yr yields are still lower on the day, but only because yesterday afternoon was as weak as it was (currently down 1.2bp at .634).
No major market movers in play. Traders are packing it up for another weekend. Stock traders closing out longs (i.e. stocks declining) and bond traders keeping the range intact.