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Spds Widening

US SWAPS

US SWAPS: Spd curve flatter with short end running wider on back of heavy (14k) Block/crosses in Eurodollar Red packs since before the NY open, likely payer/sale driven while an estimated $20B AerCap 9-tranche issuance spanning 2-20Y generating rate lock selling as well. Spds should reverse/narrow as supply hedges unwound. Current Swap levels:

TIME2Y Swap Mid5Y Swap Mid10Y Swap/Mid30Y Swap/Mid
1115ET17.757.250.88-22.69
Open17.257.441.12-22.31

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