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Spds running mildly tighter for the most...>

US SWAPS
US SWAPS: Spds running mildly tighter for the most part, spd curve steeper,
recent flow includes light 10y payer at 2.4295% vs. 30y receiver at 2.663%,
Overnight flow included receiving in 5s and 10s. Latest spread levels:
* 2Y  -0.50/22.25
* 5Y  -0.12/7.25
* 10Y -0.12/-2.75
* 30Y +0.25/-29.25
Thursday recap: Spds mildly tighter into the close, low end narrow range.
Sources noted bank paying in 10s coming into the session followed by flow
includes $240M payer in 3s at 1.96125% after 10Y10Y forward steepener. Better
paying from fast$, real$ and insurance portfolios across the board into the Tsy
sale.

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