Shoulder season was well underway in the financial basis swaps markets this week as mild weather kept many market players on the sidelines. Activity picked up slightly on Wednesday, although most markets saw only slight changes. Seasonal temperatures in the region announced the end of winter demand with basis volatility dropping to minimal amounts as a result, even in the Northeast markets. At the same time, bids and offers filled the curve in abundance, although few players seemed willing to take advantage of the active markets.
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