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Spds are running wider across the curve....>

US SWAPS
US SWAPS: Spds are running wider across the curve by the close, the highest or
least inverted levels in two to three weeks, while the 2Y spd is appr 5.0bps
higher after going mildly inverted for the first time ever early Tuesday. Drop
in swappable issuance partially to blame. Current spd levels:
Time (ET)   2Y Swap/Mid    5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid
Fri 1500    +1.62/5.31     +1.38/-0.69    +1.50/-4.56   +1.06/-31.62
1315        +1.75/5.44     +1.50/-0.56    +1.62/-4.44   +1.19/-31.50
1100        +1.75/5.44     +1.56/-0.50    +1.31/-4.75   +1.12/-31.56
0930        +1.31/5.00     +1.25/-0.81    +1.19/-4.88   +1.06/-31.62
Fri Open    +1.25/4.94     +1.00/-1.06    +1.09/-5.00   +0.94/-31.75
Thu 1500    +0.56/3.38     +0.50/-2.31    +0.58/-6.31   +0.38/-33.44
Thursday recap: Spds running modestly wider across the curve amid rather decent
rate paying in 2s around 1.7820-1.7821, and 10s at 1.9570%, receiver flys in
2s3s5s and 2s5s10s since late morning. Note spds near steady to last Friday's
late levels while the 2Y spd is over 3.0bp wider after inverting for the first
time ever early Tuesday.
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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