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Spds steady/mixed by the bell, off early...>

US SWAPS
US SWAPS: Spds steady/mixed by the bell, off early wides but maintaining narrow
range all session. Mixed flow all session, scale payers in 2s around
2.8185-2.82055%, payer in 3s at 2.9015%. Decent two-way curve flow: 2-way 2s3s,
3s and 5s vs. 10Y steepeners, 4s7s flatteners and steepeners in 5s vs. 9s and
10s. Deal-tied flow in the mix into $15B 8-tranche Bayer issuance. Latest spd
levels:
* 2Y  -0.56/26.50
* 5Y  +0.44/14.50
* 10Y +0.25/6.50
* 30Y +0.00/-6.25

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