Shortly after the last alert, bonds began finding their footing with the help of stock market weakness. 10yr yields are back into positive territory (closer to 'unchanged,' really) and Fannie 4.0 MBS are 1 tick in the green (+0.03).
This erases the negative reprice risk that had been building earlier in the day. Lenders who priced closed to the lows (9:45-10:15am) may actually be in a position to consider positive reprices if we gain any more ground.
