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Spds directionally wider with bounce in....>

US SWAPS
US SWAPS: Spds directionally wider with bounce in Tsy ylds, short end off first
time inversion breached Tuesday. Limited flow, some rate paying in 5s on day.
Current spd levels:
Time (ET)   2Y Swap/Mid    5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid
Wed 1500    +2.81/2.69     +0.06/-3.00    +0.62/-7.12   +1.19/-34.19
1315        +3.06/2.94     +0.19/-2.88    +0.38/-7.38   +1.12/-34.25
1115        +3.25/3.12     +0.19/-2.88    +0.50/-7.25   +0.75/-34.62
0945        +3.00/2.88     +0.00/-3.06    +0.12/-7.62   +0.50/-34.88
Wed Open    +2.81/2.69     +0.12/-2.94    +0.25/-7.50   +0.88/-34.50
Tue 1500    -0.38/0.12     -0.62/-2.88    -0.38/-7.50   -0.06/-34.81
Tuesday recap: New first for swap spds -- inverted across the curve in early
trade, 2Y spd went negative for first time, decisive move implying some payer
unwinds, receiver in 5s at 1.803%, spd curve steepeners. 

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