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Spds running mildly wider, spd curve.......>

US SWAPS
US SWAPS: Spds running mildly wider, spd curve flatter, modest paying in 2s, 5s
and 10s over last hour; 5- and 10yr spds 2-3bp wider, appr 4-week highs. Latest
spread levels:
* 2Y +0.38/23.31
* 5Y +0.62/8.00
* 10Y +0.50/-3.38
* 30Y +0.44/-33.25
Wednesday recap: Spds hold wider by the bell, intermediates lagging wings
slightly. Despite another round corp supply ($19.6B vs. $18.5B on Tue), not all
swapped, safe-haven/risk-off tone also never far from front burner, mkts still
w/hair trigger to any word of growing tension w/N Korea. Flow included deal-tied
paying, spds should recede after some issues price, modest 2-way in the
intermediates. OTC and exchange traded option vol receded on the debt ceiling
extension news, trade mixed but with some decent tactical put buying (not rate
hike positioning as chances of a hike before year end remain low: Sep and Nov
0.0, Dec at 26%, MNI PINCH). 

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