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

US SWAPS
US SWAPS: Spds running mixed, spd curve flatter w/short end leading move.
Sources note deal-tied hedging, real$ paying in long end. Recent 5s/10s
flattener, $191.8k 3s5s10s fly, receiving belly. Latest spread levels:
* 2Y  +0.62/24.75
* 5Y  +0.19/9.75
* 10Y -0.06/2.50
* 30Y -0.12/-15.25
Tuesday recap: Spds running steady/mixed by the close, spd curve steeper vs.
flatter Tsy curve. Front end tighter on the back of decent issuance in 3s-5s,
not to mention the upsized $26B Tsy note auction. OTV swaption vol higher/off
highs as markets finish on a much more stable tone compared to Mon. 

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