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Negative Reprice Risk Increasing As Bond Markets Swoon
Posted to: Micro News
Tuesday, March 04, 2014 10:03 AM
Once more, with feeling...
What had been just a 'heads-up' type of reprice alert a few minutes ago, has now turned into something a bit more serious, at least for the lenders who were already out with rate sheets before the slide began. Thus far it's been focused on the cash open for equities markets and led by Treasuries.
10yr Treasuries are down 16 ticks in price. MBS are down 10 ticks in Fannie 4.0s and 13 ticks in Fannie 3.5s. About half of that weakness was in place from the overnight session, but the remainder is sufficient to suggest negative reprices are possible.
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