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### More on recent selling in Tsys...>

US TSY FUTURES
US TSY FUTURES: ### More on recent selling in Tsys does appear to be driven by
Fed Chair replacement chatter, reacting to Pres Trump being impressed by
Stanford's John Taylor, much the way they reacted weeks ago to Kevin Warsh
chatter. Trump said to plan interview w/Janet Yellen this wk (Politico). Latest
chances to become next chairman according to New Zealand based prediction market
PredictIt: 
Current Fed board governor Jerome Powell (29%)
Stanford economist John Taylor (25%)
Janet Yellen, still under consideration (20%)
Former Fed board governor Kevin Warsh (15%)
White House economic advisor Gary Cohn (8%)
Minneapolis Fed president Neel Kashkari (5%)
Warsh and Powell are moderate hawks, looking to maintain gradual pace in rate
hikes (likely one more in December followed by three in 2018) while remaining
vigilant for slackening inflation. Note, current rate hike probability for
December has climbed to 78.9% while March is up to 44.8% (MNI PINCH).

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