Spds running steady/mixed, spd curve.......>

US SWAPS: Spds running steady/mixed, spd curve flatter around steady 10Y spd, no

overnight flow to speak of as yet. Latest spd levels:

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

Thu 0715    -0.69/+8.31    -0.38/+0.12   +0.00/-4.00    +0.25/-28.75

Tue 1045    +0.12/+7.38    +0.62/+0.50   +0.38/-4.00    +0.25/-29.00

0930        +0.00/+7.25    -0.06/-0.19   -0.12/-4.50    +0.00/-29.25

Tue Open    +0.00/+7.25    +0.06/-0.06   -0.12/-4.50    +0.00/-29.25

Tue 0715    +0.00/+7.25    +0.12/+0.00   -0.12/-4.50    +0.00/-29.25

Mon 1500    -0.50/+7.19    +0.00/+0.06   -0.25/-4.38    -0.38/-29.12

Tuesday recap: After a steady/mixed open, spds running wider across the board

amid decent flurry two-way flow after 5Y note auction: initial receivers in 2s

from 1.720-1.7215%, two-way in 5s with better payers around 1.7340% has sector

dis-inverting today (earlier 5Y payers at 1.7652%), payer in 9s at 1.8450%;

early 7Y receiver at1.8105%.