August 8, 2019 / 12:37 PM / 17 days ago

US SWAPS-U.S. swap spreads widen as bond yields rise

NEW YORK, Aug 8 (Reuters) - The cost to exchange dollar-denominated, fixed-rate cash flows for floating-rate ones through interest rate swap contracts rose on Thursday as bond yields increased, reversing some of their recent declines due to trade and economic worries.

At 8:31 a.m. (1231 GMT), 10-year dollar interest swap spreads - which measures the cost of exchanging these cash flows for 10 years - were minus 12.75 basis points, 0.75 basis point wider than late on Wednesday. They narrowed to minus 14.25 basis points on Tuesday, which was their lowest negative level since January 2017, according to Tradeweb.

Reporting by Richard Leong; Editing by Bernadette Baum

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