Spds running spds running mildly wider.....>

US SWAPS: Spds running spds running mildly wider for the most part, spd curve

mildly steeper again. Flow included macro fund paying in 2s10s and receiving in

10s/30s earlier. Early London flow included a 3-5Y curve flattener in $160m vs.

$100m and payer of 5Y outright in E100m at 08:39BST. There was also a $130m TY

invoice spread roll from Sep to Dec at 09:06BST. Latest spread levels:

* 2Y +0.00/24.06

* 5Y +0.38/5.38

* 10Y +0.25/-5.75

* 30Y +0.20/-34.82

Thursday recap: Spd steady to mixed by the bell, spd curve steeper, long end

back to even late. Light, but consistent receiving in 2s-5s after midday,

little/no action in long end. Two-way option tied flow in shorts to

intermediates, no deal-tied flow, light consolidation in belly earlier. OTC vol

inched higher later in second half, light straddle buying in 1-3M 10Y vol.