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Spds have marched wider w/wings still......>

US SWAPS
US SWAPS: Spds have marched wider w/wings still outpacing intermediates since
the open on rather decent flow on the day though volume moderated late. Midday
flow includes nearly $1B nominal payer in 2s around 2.879-.88%, payer in 10s at
3.01575%, steepeners in 2s5s and 5s10s, mixed fly action: 2s8s9s receiving
belly, 3s4s5s paying bell. Earlier flow included $300M payer 1s (2.6689%),
receiver 2s (2.8775%), 2s10s and 5s7s flatteners, 2s3s steepener, 2s5s7s
fly/receiving belly. Latest spd levels:
* 2Y  +0.88/20.12
* 5Y  +0.38/12.25
* 10Y +0.94/5.88
* 30Y +1.19/-5.81

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