Tsy curves extend steepening w/long end........>

FOMC: Tsy curves extend steepening w/long end giving up post FOMC gains now,

initially overreacting "to some of the grammatical changes that were made to the

Statement that on the surface appear to be less Hawkish than some may have

expected," Brean Capital's Scott Buchta said. "While it is clearly too early to

proclaim 'Mission Accomplished' on the inflation front," Buchta posited, the

"Fed appears to comfortable with the current readings and may be transitioning

to a period where they allow inflation to move modestly above the target rate

while continuing to gradually reduce the level of accommodation that remains in

the markets today." Buchta expects the "front end of the curve to remain driven

primarily by the Fed as well as supply, while the back end of the curve will be

driven by evenly by supply/demand dynamics (net supply will be increasing

sharply across the curve as the Fed continues to reduce their footprint in the

primary markets), wages and inflation."