Wedbush Securities' Scott....>

US TSYS/OVERNIGHT REPO: Wedbush Securities' Scott Skyrm eyed the US Treasury

General Collateral Yield Curve and said "term GC curve is relatively steep after

December, reflecting the probability of about a 37% chance of a tightening by

Dec. 13th. Given the flatness of the curve after December, it means the market

isn't pricing additional tightenings, just the chance of one tightening. But if

the Fed does not move in December, I expect the market to continue to price the

chance of a tightening at the next FOMC meeting with a press conference."

- He adds, "and if there is no tightening at that meeting, then the next FOMC

meeting with a press conference. So here's my Fed call: I believe there is no

tightening in December and then the market continues to price the chance of

successive Fed tightenings (which do not happen) at the successive FOMC meetings

through 2018."