After losing ground in the first 2 hours of trading, bonds have reversed course and are heading back toward 'unchanged' levels. The move coincides with a reversal in stocks, but bonds are showing some initiative/leadership that go beyond a simple "stock lever" explanation.
UMBS 2.0 coupons are down only a few ticks now at 102-06 (102.19) after having been as low as 102 even. 10yr yields are down to .685 after being as high as .721.