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Large U>S. swap flows were relatively......>

US SWAPS
US SWAPS: Large U>S. swap flows were relatively limited overnight, despite the
selloff observed in Tsys on the back of a sharp move lower in JGBs. The swap
curve is running slightly steeper on the day.
- Latest spd levels:
* 2Y +0.53/21.44
* 5Y +0.19/13.00
* 10Y +0.09/6.75
* 30Y -0.06/-4.50
- The 3Y-4Y-5Y Fly was passed around
- At 01:16GMT there appeared to be a USD460mln+ payer of USD 2Y at 2.8762%
- At 01:25GMT there appeared to be a USD110mln payer of USD 5Y at 2.96998%
- At 02:58GMT there appeared to be a USD160mln payer of USD 2Y at 2.88573%
- At 04:01GMT there appeared to be a USD150mln receiver of USD 1Y at 2.66375%
- At 04:08GMT there appeared to be a USD56mln payer of USD 5Y at 2.9875%
- At 04:43GMT there appeared to be a USD106.6k 7Y-8Y-9Y Fly, paying the belly
- At 05:26GMT there appeared to be a USD460mln+ receiver of USD 2Y at 2.8877%
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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