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/MBS: *** EXCLUSIVE: Treasuries still.......>

US TSYS
US TSYS: /MBS: *** EXCLUSIVE: Treasuries still sliding; cash 10-year note is at
2.470%. 
- At last hearing, the next big US 10-year note technical levels rotate around
2.50% and 2.60%; those are not only big levels for cash US 10-year note
technicals, but also for MBS: a severe and quick break above those yield levels
could spur MBS-tied convexity hedging.
- "The MBS basis did widen yesterday," said one trader. "Maybe this MBS-tied
hedging is already starting too" amid the selloff, he added.

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