Spds running mostly wider, 5y bucking......>

US SWAPS: Spds running mostly wider, 5y bucking move as it slips back to late

Dec'18 levels. Though mildly wider now, short end still at 3-year lows currently

(2Y chopped around sub 5.0 lvls late 2015/early 2016 before starting rise in

Spring of 2016 to >35.0 by end of 2016). Decent two-way position over last

couple hours includes payer in 2s at 2.61809% and receiving in 5s at 2.577%

after flurry of flys: 3s4s7s, 3s5s10s, 2s5s10sand 2s7s10s all paying in the

belly. Current spds levels

Time (ET)   2Y Swap/Mid   5Y Swap/Mid   10Y Swap/Mid   30Y Swap/Mid

12:00       +0.19/9.12    -0.62/5.00     +0.06/0.69    +0.69/-20.69

10:45       -0.19/8.75    -0.31/5.31     +0.25/0.88    +1.12/-20.25

9:30        -0.06/8.88    -0.12/5.50     +0.31/0.94    +0.88/-20.50

Thu Open    +0.19/9.12    +0.25/5.88     +0.25/0.88    +0.25/-21.12

Wed 3:00    -0.25/8.31    -0.06/5.31     -0.12/0.31    -0.75/-21.75