Intermediate spds lead charge wider,.......>

US SWAPS: Intermediate spds lead charge wider, pulling wings off earlier lows as

markets looking to scale back at least some of the risk-aversion trade over the

past week. fast$ continued rate paying in 2s-10s. Note, intermediates appr 8-9bp

off last week Mon's inverted lows. Latest spd levels:

Time(ET)   2Y Swap/Mid    5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid

1200       -0.75/+6.25    +2.31/+6.69   +2.06/-1.19    +0.12/-37.38

0930       -1.38/+5.62    +1.12/+5.50   +1.00/-2.25    -1.00/-38.50

Mon Open   -0.69/+6.31    +1.12/+5.50   +0.81/-2.44    -1.50/-39.00

Mon 0715   -0.50/+6.50    +0.62/+5.00   +0.88/-2.38    -1.50/-39.00

Fri 1500   +2.19/+6.44    +1.88/+3.50   +1.38/-4.25    -0.00/-38.00

Friday recap: Spds gapped wider after Friday's open, combination of risk-off and

rate paying in shorts to intermediates as safe haven bid for rates held strong

ahead weekend. Long end rebuffed move, mildly tighter all session on the back of

convexity acct receiving as 30YY slipped below 1.650%.