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Spds tighter but off session lows late.....>

US SWAPS
US SWAPS: Spds tighter but off session lows late amid amid decent payer interest
in 1Y (>$750M at 2.5575%) in second half. Other late flow includes receiver in
5s at 2.98947%, $97.1k DV01 2Y-5Y STEEPENER and $145.7k DV01 7Y-10Y STEEPENER.
First half flow included modest payers in 1s, 4s and 5s fading the two day move,
while some modest spd curve steepeners (2s5s and 4s7s). Latest spd levels:
* 2Y  -1.00/23.94
* 5Y  -0.31/9.69
* 10Y -0.25/3.00
* 30Y -0.06/-8.56

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