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Spds running tighter across the curve by...>

US SWAPS
US SWAPS: Spds running tighter across the curve by the close, front end in the
lead foer much of the session. Moderate two-way curve action on the day,
flattener in 5s30s and some switch activity in 10s. Deal-tied flow in the
intermediates. Coming into the session, sources reported 2s vs. 3s flatteners,
light deal-tied hedging. OTC vol receding on the curve flattening bounce in
underlying rates. Latest spread levels:
* 2Y  -2.31/25.50
* 5Y  -0.12/9.44
* 10Y -0.50/0.75
* 30Y -1.12/-18.00

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