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Very limited in the way of large...........>

US SWAPS
US SWAPS: Very limited in the way of large reported flow in the space overnight,
with some smaller clips noted in the 2Y-5Y spread.
- Swap rates sit a touch higher on the day, with the belly leading, much like
Tsys, supported by the broader risk-on flows.
- Spds vs Tsys marginally mixed ahead of European hours.
- Latest spd levels:
- 2Y -0.38/12.19
- 5Y -0.10/7.43
- 10Y -0.04/2.00
- 30Y +0.13/-19.50
- Trades of note included:
- At 00:48GMT there appeared to be a USD51.3k DV01 5Y-30Y FLATTENER at 30.95bp
- At 01:59GMT there appeared to be a USD51.3k DV01 5Y-30Y STEEPENER at 31.15bp
- At 03:19GMT there appeared to be a USD100mln payer of USD 2Y at 2.62%
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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