Yields should be falling since cuts announced. Bond vigilantes have awakened.

my guess:

Fed just cut rates

Bond investors are actually demanding higher yields

Home prices are already falling

If Fed reverses & raises rates next oportunity to be in line with market demand, that pushes housing lower likely....(since buyers can't afford higher borrowing rates)

MBS are a huge part of balance sheets....underpinning much of the credit bubble

If home prices tank (Case Schiller) , Fed forced to monetize debt, lower rates, rinse repeat

US increasingly showing failing state debt monetization is seemingly inevitable