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Spds reversing some on Thu's widening in...>

US SWAPS
US SWAPS: Spds reversing some on Thu's widening in short end by the open, decent
receivers in 1s and 2s, paying 2s3s5s fly. Latest spd levels:
* 2Y -1.25/20.81
* 5Y +0.25/15.38
* 10Y -0.12/6.88
* 30Y -0.12/-8.38
Thursday recap: Spds running mostly wider, spd curve flatter w/short end leading
move all day -- since 3M LIBOR set +0.0194 to 2.4690% (+0.0326/wk) and FRA/OIS
surged (+4.80 at 36.10). Decent but sporadic rate paying, receiver unwinds on
net after early two-way, spd curve steepener unwinds. Hard Brexit warning
signal? Also note, BTP/Bund rate spds wider cross curve on budget concerns,
sovereign spds wider.

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