Today may be quiet in Tsys and.....>

US TSYS/RESEARCH: Today may be quiet in Tsys and in US news, with Congress out

until next week, U.S. Pres. Trump vacationin in Florida., but maybe it's a lull

before the storm? "All of us should take the quiet final session in a quiet

final week for what it is however, for next week will be very busy," said John

Briggs, head of strategy/Americas at NatWest. 

- "Not only do I think markets will have their usual high level of activity as

risk appetites rev up again and as P&Ls are reset to zero, but there is a ton of

top-tier data out as well as the potential for political news if Trump kicks the

year off with a strong drive for infrastructure spending," he added. 

- That is "one of the reasons I am reluctant to ride this latest leg of curve

flattening," he said. "Also, I think the front end out to the belly has enough

Fed priced in for now with about 3 hikes priced for next year" so "looking for a

further weakening of the front end here seems like poor risk-reward."