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After a mixed open, spds have compressed...>

US SWAPS
US SWAPS: After a mixed open, spds have compressed across the curve in early
trade -- holding near lows into the close. Sources cited program receiving as
Tsy curve resumes descent to new 10+ year lows (2s10s -2.298, 51.125; 5s30s
-3.733, 52.888). Additional flow includes $109.8k DV01 5s7s steepener after appr
$100k DV01 2s5s flattener and 10Y switch around 2.351-.35125%. OTC and exchange
traded option vols declined amid lack of delivered vol on the day. Latest spread
levels:
* 2Y  -0.88/18.69
* 5Y  -1.12/4.38
* 10Y -1.00/-1.44
* 30Y -0.12/-20.38

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