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Spds are running tighter after a mixed.....>

US SWAPS
US SWAPS: Spds are running tighter after a mixed open, short end reversing early
widening as Tsys continued to ratchet lower. Light mixed flow included rate
receivers in 3s and 5s after small fly action: $134.2k 4s5s6s fly, paying the
belly and $167.8k 5s6s7s fly, paying the belly. Mixed curve play early w/US$
56.6k DV01 2s5s steepener and US$88.8k DV01 5s10s flattener. OTC vol
directionally higher w/Tsy ylds and steeper yld curve. Latest spread levels:
* 2Y  -0.62/18.12
* 5Y  -0.31/3.19
* 10Y -0.94/-2.12
* 30Y -1.44/-21.44

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