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*** Spds still wider in the wings while....>

US SWAPS
US SWAPS: *** Spds still wider in the wings while intermediates receded back to
near steadyheading into midday. Recent flow includes some 2-way in short end
* US$300mln receiver of USD 2Y at 1.5675%, 1118ET
* US$100mln payer of USD 5Y at 1.81875%, 1116ET
* US$240mln payer of USD 2Y at 1.56875%, 1116ET
US corporate, supra-sovereign and Tsy note supply as well as some formosa
issuance sources note, has generated some decent hedging in the first half.
Latest spread levels:
* 2Y +1.38/23.38
* 5Y +0.00/7.38
* 10Y +0.06/-4.38
* 30Y +0.50/-34.75

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