Yesterday there was a huge sell off in the bond market. The Mortgage Bond had their worst one day performance since October, losing an astounding 206bp. The main culprit was SUPPLY. The Treasury has literally been printing money be way of Treasury acutions to pay for the massive spending. And these hundreds of Billions of dollars of new Bond suplly have to b absorbed by the market. so the additioanal supply literally weighs on the entire Bond makret and drags prices lower.