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Spds running steady to mildly mixed, spd...>

US SWAPS
US SWAPS: Spds running steady to mildly mixed, spd curve steeper. Sources
reported macro fund receiving in 2s, prop and option related receiving in 5s and
macro acct paying in 10s. Latest spread levels:
* 2Y -0.50/25.38
* 5Y -0.15/5.75
* 10Y +0.00/-5.75
* 30Y +0.25/-34.19
Tuesday recap: Spds tighter by the bell, spd curve back to steeper after brief
trip flatter earlier. Modest second half front end flow two-way w/better
receivers in 5s, as well as light deal-tied flow in the mix. Earlier, sources
reported rate paying in 2s, 2s5s spd flattener and 2s3s5s swap fly helping keep
levels in range. OTC vol steady to lower, gamma underperforming on lack of real
vol on the day.

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