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After a steady/mixed open, spds running....>

US SWAPS
US SWAPS: After a steady/mixed open, spds running wider across the board amid
decent flurry two-way flow after 5Y note auction: initial receivers in 2s from
1.720-1.7215%, two-way in 5s with better payers around 1.7340% has sector
dis-inverting today (earlier 5Y payers at 1.7652%), payer in 9s at 1.8450%;
early 7Y receiver at1.8105%. Latest spd levels:
Time (ET)   2Y Swap/Mid    5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid
1100        +0.12/+7.38    +0.62/+0.50   +0.38/-4.00    +0.25/-29.00
0930        +0.00/+7.25    -0.06/-0.19   -0.12/-4.50    +0.00/-29.25
Tue Open    +0.00/+7.25    +0.06/-0.06   -0.12/-4.50    +0.00/-29.25
Tue 0715    +0.00/+7.25    +0.12/+0.00   -0.12/-4.50    +0.00/-29.25
Mon 1500    -0.50/+7.19    +0.00/+0.06   -0.25/-4.38    -0.38/-29.12
Monday recap: Quiet week opener for swaps, limited flow with payer unwinds in
long end from real$.

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