March 6, 2008 / 2:49 PM / 12 years ago

US SWAPS-Spreads widen after Treasury denies GSE rumor

NEW YORK, March 6 (Reuters) - U.S. interest rate swap spreads widened toward fresh record wides on Thursday after the Treasury Department said there is nothing to the rumors of a new government backstop for mortgage government-sponsored enterprises, Fannie Mae FNM.N and Freddie Mac FRE.N.

Two-year swap spread was last quoted 107.75 basis points after setting a record 110.00 basis points earlier.

Ten-year swap spread was last quoted 86.75 basis points after hitting 89.00 basis points, the widest since July 2001. (Reporting by Richard Leong; Editing by Theodore d’Afflisio)

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