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Spds running mixed, spd curve continues....>

US SWAPS: Spds running mixed, spd curve continues to flatten/adding to Fri's
move, flow includes curve unwinds and rate paying in 2s, 5s. Latest spread
* 2Y  +1.31/23.06
* 5Y  +0.06/9.62
* 10Y -0.75/2.75
* 30Y -0.94/-14.50
Friday recap: Spds running mixed by the bell, spd curve sharply flatter vs
rebound/bear steepening Tsy curve. Receiver stop-outs and spd curve steepener
unwinds in front end vs. intermediates from specs and bank portfolios adding to
move w/short end forging steadily wider onday. Auction and deal-tied hedging
ahead next week's supply adding to move. Fast$ reportedly attempted some
flatteners in 2s and 5s vs. 10s. OTC swaption vol higher but off top of range
after Tsys dipped around midday, not quite recovering as Tsys made new session
lows into the close.

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