Spds hold wider by the bell, limited.......>

US SWAPS: Spds hold wider by the bell, limited action after first half moves.

Short end holds mildly positive territory after dis-inverting first time since

beginning of the month. Modest swap-tied volume on the session includes better

rate paying in 5s and 7s. Limited deal-tied flow, appears specs positioning for

further widening. Current spd levels:

Time (ET)   2Y Swap/Mid    5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid

Mon 1500    +0.12/+1.25    +0.38/-4.50   +0.44/-10.50   +0.69/-40.44

1330        +0.12/+1.25    +0.31/-4.56   +0.50/-10.44   +0.56/-40.56

1130        +0.25/+1.38    +0.50/-4.38   +0.44/-10.50   +0.56/-40.56

0930        +0.12/+1.25    +0.38/-4.50   +0.56/-10.38   +0.62/-40.50

Mon Open    +0.12/+1.25    +0.44/-4.44   +0.44/-10.50   +0.44/-40.69

Mon 0730    +0.38/+1.50    +0.56/-4.31   +0.50/-10.44   +0.38/-40.75

Fri 1500    +1.25/+0.81    +1.75/-4.75   +1.38/-10.56   +2.00/-40.56