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

US SWAPS: Spds running mixed by the bell, spd curve steeper all day, decent
two-way in front end tied to deal-tied hedging between 2s-5s, keeping lid on
widening out the curve. Earlier reports of decent real$ receiving in 30s (rate
and spd). Other flow includes $20m payer 3Y at 2.33468%, 5yr switch around
2.42895-2.4310, $93.9k DV01 3Y-5Y FLATTENER, $61.2k DV01 5Y-6Y STEEPENER,
$122.4k 2Y-5Y-6Y Fly, receiving the belly. OTC and exchange traded option vol
lower/off lows when underlying rates traded lower in the long end as US$
rebounded off lows. Decent volume trade on mixed flows, large buyer 40k TYH 124
calls at 8/64. Latest spread levels:
* 2Y  -0.12/20.00
* 5Y  -0.31/5.31
* 10Y +0.19/+0.62
* 30Y +1.00/-16.75

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