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

US SWAPS
US SWAPS: Spds running turn steady/mixed, spd curve mildly flatter, light mixed
flow heading into the weekend, ongoing repo specials 5s, 7s and 10s buffer
narrowing factors. Latest spread levels:
* 2Y +0.12/24.88
* 5Y +0.00/8.25
* 10Y +0.00/-3.06
* 30Y -0.12/-32.81
Thursday recap: Spds on session wides by the bell, 5yr lagging slightly. Modest
volume on net, sources reported short gamma payers, steepener unwinds in Tsys
spurring wideners in the long end w/week's Tsy auctions in rear view. In the
first half, 2s/7s spd curve flatteners ($280M 2Y, 1.61505% vs. $160M 7Y,
2.003%), light payer in 5s at 1.8675%. Modest deal-tied flow on supra-sovereign
issuance in mix while ongoing overnight repo specials adding to move. OTC and
exchange traded vol steady to mildly higher despite the rather limited real vol
on day. 

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