Swap spreads are tighter across the curve today. Two year spreads are one basis point tighter at 34 1/2. Three year spreads are 2 basis points tighter at 46 3/4. Five year spreads are 1 1/2 basis points tighter at 36. Seven year spreads have tightened 2 basis points to 19. Ten year spreads are 2 1/2 basis points tighter at 20 1/2. Thirty year spreads are 3 basis points narrower at NEGATIVE 11 1/2.
Mortgages are about a tick tighter to swaps.
The three month / ten year ATM swaption straddle is 525 basis points.