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Seaport Global Holdings' Tom..........>

US TSYS/BILLS
US TSYS/BILLS: Seaport Global Holdings' Tom Digaloma asked rhetorically why
there is Treasury "yield curve steepening pressure?" then answered, "Part of the
tax reform bill will remove tax free status from certain new issue" municipal
bonds.
- "This will result in huge demand for front-end Treasuries for the next three
weeks, as advance refundings are rushed to the market before the Jan. 1
deadline. Proceeds of this (US$60bln estimate) will be used to retire the
existing munis to their 2020, 2021 and 2022 call dates," he added. 

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