Little vol for spds - still running........>

US SWAPS: Little vol for spds - still running mostly/mildly tighter, long end

holds mildly wider. Mild overall flow covers better receiving in 5s-10s on net.

Individual flow includes receivers in 1s (2.054), and 3s (1.8215%), payer in 5s

(1.837%, two-way in 10s around 2.03125-2.02924%, decent 4s5s7s receiver fly.

Deal-tied selling in the mix. Current levels:

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

1130        -0.19/3.31     -0.31/-1.19    -0.38/-6.19   +0.25/-34.50

1015        -0.38/3.12     -0.38/-1.25    -0.44/-6.25   +0.06/-34.69

Mon Open    -0.06/3.44     -0.31/-1.19    -0.56/-6.38   +0.00/-34.75

Mon 0730    -0.06/3.44     -0.31/-1.19    -0.56/-6.38   +0.00/-34.75

Fri 1500    +0.19/3.81     -0.12/-1.00    -0.75/-5.94   -1.38/-34.50

Friday recap: Spds turned mostly tighter in the second half, long end leading

the way as Tsys recovered from earlier weaker levels. Decent two-way flow on

session w/receivers in 2s through 5s after better paying in the short end (2s

around 1.9833-1.8944%, 9s at 2.0325% and 10s at 2.0715%. No deal-related flow

after largest amount of issuance issuance place in wks ($34.15b).