Spds mixed by the bell, spd curve..........>

US SWAPS: Spds mixed by the bell, spd curve flatter w/long end narrowing late

amid better receiving in 9s and 10s. Earlier 2s5s10s payer fly. Limited

deal-tied flow on day. Latest spd levels, 5Y quoted over new issue:

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

Thu 1500    +0.81/-0.12    +0.50/-6.56   -0.25/-10.69   -0.25/-41.00

1330        +0.62/-0.31    +0.81/-6.25   +0.38/-10.06   +0.38/-40.38

1100        +0.94/+0.00    +1.19/-5.88   +0.56/-9.88    +0.12/-40.62

0900        +0.19/-0.75    +1.19/-5.88   +0.62/-9.81    +0.62/-40.12

Thu Open    +0.44/-0.50    +1.38/-5.69   +0.50/-9.94    +0.56/-40.19

Wed 1500    +0.38/-0.88    -1.50/-7.12   -1.81/-10.62   -1.50/-40.75

Wednesday recap: Spds collapse/extend inversion in second half, short end

resisting move after better rate paying in 2s-5s and light receiving in 6s and

8s earlier. More recently, two-way in 2s, receiver in 5s around 1.28804%, mixed

flys: 5s6s10s and 3s5s10s receivers, 2s3s9s, 2s4s5s and 5s7s10s payer flys.

Deal-tied selling in the mix.