A risk-on tone across markets has seen most....>

STIR: A risk-on tone across markets has seen most STIR futures contracts

sell-off somewhat today. Most seem to be pinning this improved risk appetite on

an easing of US-China relations in spite of the Treasury's denial of a WSJ story

that states US officials are discussing lifting tariffs in order to speed up

trade negotiations.

- The White tranche of the Eurodollar strip has steepened this morning with the

rest of the strip 3-3.5 ticks lower on the day.

- The positive sentiment has also helped Euribor futures move lower. Whites are

flat to 0.5 ticks lower, Reds 1-1.5 ticks lower and Greens and Blues are

generally 2 ticks lower.

- Short sterling Greens and Blues have also sold off in sync with other global

STIR markets but Whites and Reds are generally 0.5-1 tick higher on the day as

Brexit issues continue to linger and retail sales were softer than expected in

December.