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CIBC head of rates strategy Richard.........>

US TSYS
US TSYS: CIBC head of rates strategy Richard Gilhooly said that US fiscal
stimulus "will raise GDP over the next year, possibly by 1% along with
deregulation measures, leading the Fed to hike more aggressively next year."
- Gilhooly added that the US Treasury "will fund the Fed's rising run-offs and
its own cash balance needs after debt ceiling resolution in shorter maturities."
- He adds that "our Y2k analogy reflects parabolic stock markets on tax hopes
and liquidity, sadly as the liquidity withdrawal has already begun."
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