5.5's at 100-18.
We have a MASSIVE floor of support at 100-16. This has been the lowest price level we've seen since the Frannie bailout.
The markets are continuing to digest the tumultous market data--an environment that is exclusively conducive to risk-free treasuries.
The 10 year UST is up 25 ticks at a 3.39 yield.
Rates should come out .25 to .375 worse this morning depending on what your lender did yesterday afternoon. If we continue to hold the floor at 100-16, the rest of the becomes an obvious floater.
If you still have access to yesterday's rates, it looks like more of a locker, however, 5.5 prices have begun to tick up hear and there, as we are now at 100-19+ in the past 25 seconds.
Volatility is the name of the game... Stay tuned...