Spds running tighter, adding to Thu's......>

US SWAPS: Spds running tighter, adding to Thu's reversal, wings were outpacing

intermediates for much of session but flurry of late paying in intermediates to

long end helped 5s-30s rebound slightly. Decent flow kicked off w/better

receiving in 2s, 5s and 7s earlier, flurry of rate paying in intermediates by

midmorning followed by another round of receiving in 7s, 8s and 9s last hour.

Current spd levels:

Fri 1500    -1.12/+9.06    -0.38/+2.12   -0.38/-3.56    -1.06/-31.25

1315        -0.88/+9.31    -0.75/+1.75   -0.62/-3.81    -1.62/-31.81

1200        -1.19/+9.00    -0.69/+1.81   -0.62/-3.81    -1.44/-31.62

1030        -1.25/+8.94    -0.50/+2.00   -0.56/-3.75    -1.19/-31.38

Fri Open    -0.44/+9.75    -0.44/+2.06   -0.56/-3.75    -0.94/-31.12

Fri 0745    -0.38/+9.81    -0.38/+2.12   -0.56/-3.75    -0.94/-31.12

Thu 1500    -2.38/+10.06   -1.44/+2.31   -0.69/-3.19    -0.62/-30.50