This is a developing story by the look of it. Since 11am ET, stocks have been in a swan dive. Since 11:30am, the selling has been especially sharp. Bonds are being pulled along for the ride. 10yr yields down 6bps already (1.51%). UMBS 2.5s up a quarter of a point. Lots of stock investors have been wondering when we'd have a big sell-off next. Is today the warning shot? Too soon to say, but it's fun for bonds at the moment.
MBS / Treasury Market Data
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