down half a point in 6.0's. Again, if you don't have time to weather a bit of a storm, and you got rates early today, and you have not yet seen a reprice for the worse, it makes more sense to get out now.
If you got rates fairly recently, or can otherwise afford to stick around, I'd rather wait this one out, even if it takes a few weeks.
As we discussed yesterday, we are either heading to the lows of the year, or beginning a slow march towards the highs in the winter. We knew inflation would be a factor in that, but we did not see enough of a reaction to inflation this morning to ascribe today's downturn solely there. We'll still need a bit more convincing to be forced to accept that rates are going up to their annual highs this month. I don't think we'll have that evidence unless we go back closer to 100-00 on the 6.0's.
It looks ugly, but stick this one out a bit longer. If it gets uglier intraday, we can get you out before the reprices. But if the ugliness comes Day Over Day, that is where the risk really comes in.