Mortgages are about 6 ticks better to swaps this morning.
Swap spreads remain in narrowing mode. When i reported on them earlier the dealer with whom I had spoken had noted an absence of paying and only minimal receiving. That has changed somewhat as participants now report some chunky receiving. It appears to be more fast money and prop types rather than end users.
Vol as measured by the 3 month 10 year ATM straddle is still well bid as that combo is 618 bid. I think when I reported on it yesterday around his time it was 624.