Recent developments in swap spreads indicate a shift in market sentiment following the U.S. elections. Analysts from JPMorgan noted that last week's widening of swap spreads reflects a sense of deregulation optimism, particularly concerning the potential for supplementary leverage ratio (SLR) relief for U.S. Treasuries. Meanwhile, other market observers highlighted a post-election adjustment, suggesting that the five-year swap spread is trending back towards its previous lows. Additionally, data on various euro and U.S. dollar basis swap spreads were shared, indicating ongoing fluctuations in European markets, with reports of U.S. swap spreads stabilizing amidst significant changes in Europe.