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BMO's Ian Lyngen said Tsys.........>

US TSYS/RESEARCH
US TSYS/RESEARCH: BMO's Ian Lyngen said Tsys "stochastics are still technically
oversold," but "curl that started last wk has extended and this morning we see
bullish crosses throughout the curve." So "selloff has arguably run its course
for now and another bearish event would be needed to push ylds back to the top
of the recent range, otherwise a grind back toward lower ylds will prove to be
the path of least resistance," he said. 
- He saw "anything north of 2.25%" 10Y yld was a "buying oppy" for now. "We
might otherwise have been a bit more bearishly disposed had the mkt not so
easily have shrugged off a remarkably hawkish Fed. The combination of excusing
away any upcoming soft patch in the data as a temporary hurricane impact and, of
course, keeping the 2017-2018 rate projections steady has illustrated the Fed's
commitment to follow thru with a Dec. move. While there is a lot of data between
now and mid-Dec (as well as a series of political 'challenges'), the takeaway
from the Fed was that if the meeting was tomorrow the Committee wld go. While
obviously that is oversimplifying the issue, what we find more compelling is the
mkt's ability to recover the post-Fed losses (at least in 10s and 30s)."

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