Swaps spreads are wider across the curve.
The 2 year spread is wider by 2 1/2 basis points at 57 1/4. Five year spreads are wider by 3 1/2 basis points at 54 3/4. Ten year spreads are wider by 2 1/4 basis points at 20 1/4 . Thirty year spreads are wider by 3 1/4 basis points at NEGATIVE 29 1/2.
There was paying late in the day which pressured spreads wider.
Mortgages are about 1 1/2 ticks tighter to swaps.
The mortgage market saw huge selling by originators which was matched by Federal Reserve and money manager buying. There was some buying from Asia and a variety of accounts took profits on up in coupon trades.