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And TD analysts added on Fed Chr...>

US TSYS/RESEARCH
US TSYS/RESEARCH: And TD analysts added on Fed Chr Yellen speech, "We think that
changes to the leverage ratio and LCR rules are still likely. Given the
likelihood that Yellen is replaced as Fed Chr by February 2018 and the likely
appointment of Randy Quarles (a proponent of deregulation) as Vice-Chr for
Supervision, we continue to like owning 30yr swap spreads."

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