21.   The denomination selected was the dollar, which reaches the broadest potential investor base as well as offering attractive swap rates, Hearn said.

22.   These updates go into composite swap rates that are used in the swap curve.

23.   Traders bet the higher Tibor rate would lead to a rise in the benchmark swap rate, the London Interbank Offer Rate, or Libor.

24.   Traders in Japan prefer using swap rates over bond yields, since swap rates trade more frequently over a full range of maturities.

25.   Yen interest rate swap rates declined in line with the fall in bond yields.

26.   Yen interest swap rates were little changed with trading concentrated in five-year swaps, traders said.

27.   Yen swap rates fell from yesterday in Tokyo.

28.   Yen swap rates rose today.

29.   Yen swap rates were little changed with most activity concentrated in three- and five-year swaps, traders said.

30.   Yen swap rates, what a trader is willing to pay to convert a floating interest rate into a fixed rate, fell in line with the bond market.