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BMO's Ian Lyngen added that........>

US TSYS/RESEARCH
US TSYS/RESEARCH: BMO's Ian Lyngen added that "regardless of whether or not one
believes in the longer-term sustainability of the flattening move, it has proven
difficult to fade, and we remain onboard with the trade, if for no other reason
than the biggest challenge to the flattening bias was that tax reforms were
successfully fast-tracked."
- He adds that "appears to be the reality of the situation, and the 5s/30s only
took a momentary pause on the road to a flatter curve as a result. We need to
qualify this observation - the corporate AMT tax inclusion is more than just a
wrinkle in the tax cut process, but it's one that (from what we gather) most
people expect will be easily ironed out."

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