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

US SWAPS
US SWAPS: Spds mixed by tyhe bell, spd curve broadly steeper after reversing
early flattening following refunding annc. Most action occurred in first half as
bonds reversed early weakness/surged higher amid decent long end buying and
steepener unwinds. Sources report hedge funds better receivers in 5s and rate
paying in the long end w/real$ and bank portfolios. OTC vol chopped around
steady to lower after see-sawing higher earlier in session, limited summer
trade. Latest spread levels:
* 2Y -0.36/23.62
* 5Y -0.44/6.88
* 10Y +0.31/-4.12
* 30Y +1.50/-32.75

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