A quiet session in STIR markets has largely....>

STIR: A quiet session in STIR markets has largely seen some retracement of the

moves seen since around 16:00 yesterday. These moves have been in line with a

modest increase in risk appetite, partially driven by slightly better than

expected European services PMI data.

- Eurodollar futures have seen the biggest moves with the White part of the

curve steepening and the rest of the strip generally 2.5-3 ticks lower on the

day.

- The Euribor strip is within 0.5 ticks of yesterday's close across White and

Red contracts with Green and Blue contracts 0.5-1 tick lower on the day.

- The short sterling strip is unch to 0.5 ticks lower across White, Red and

Green contacts while Blues are 0.5 ticks higher.

- Speeches from the Fed's Rodsengren, Kashkari and Barkin and RBA Governor Lowe

are all due up today while BoE Governor Carney is due to testify before the

House of Lords. US new home sales and the non-manuf ISM are the highlights on

the data calendar.