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Spd curve continues to steepen, long end...>

US SWAPS
US SWAPS: Spd curve continues to steepen, long end lead Wed, short end lead Thu
as incoming supply weighed on front to intermediates. Latest spd levels:
Time (ET)   2Y Swap/Mid   5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid
Thu 3:00    -1.19/11.00   -0.50/4.75     -0.81/-1.00   -0.38/-22.12
1:45        -1.06/11.12   -0.62/4.62     -0.56/-0.81   -0.31/-22.06
12:00       -0.88/11.38   -0.62/4.62     -0.62/-0.88   -0.25/-22.00
10:45       -0.94/11.31   -0.25/5.00     +0.19/-0.06   +0.62/-21.19
9:00        -1.06/11.12   +0.00/5.25     +0.31/+0.06   +0.56/-21.25
Thu Open    -0.88/11.38   +0.06/5.31     +0.31/+0.06   +1.06/-20.75
Thu 7:45    -1.12/11.12   -0.06/5.19     +0.31/+0.06   +1.06/-20.75
Wed 3:30    +0.25/11.56   +0.44/4.88     +0.62/-0.50   +1.50/-21.94
Wednesday recap: Spds wider after the bell -- most well off post-Powell conf
levels (30Y holding wides) when spds surged as Tsys reversed off highs. Move
occurred as Fed chair Powell clarifies IOER adjustment is technical, not monpol
related.

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