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Spds running spds steady/mildly tighter....>

US SWAPS
US SWAPS: Spds running spds steady/mildly tighter flow includes bank paying in
5s and 2s10s steepeners earlier; $293k 2Y-5Y-10Y Fly, receiving the belly more
recently along with $500M receiver 1s at 2.5275, receiver in 5s at 2.89969%.
Latest spd levels:
* 2Y  -0.81/22.25
* 5Y  -0.12/10.25
* 10Y +0.06/3.25
* 30Y -0.12/-9.88
Thursday recap: Spds running steady/mildly wider by the bell, short end off
highs/long end reversing early narrowing. Flow includes decent short end payer,
$800M 1Y payer at 2.536%, small paying in 3s at 2.8425%, flurry of steepeners in
2s and 3s vs. 4s and 5s. Light deal-tied flow in the mix, position squaring
ahead extended holiday weekend.

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