* Eonia last fixed at -0.3610% up from........>

EONIA: * Eonia last fixed at -0.3610% up from -0.3690% with volume at EUR2.0bln

down from EUR7.99bln. 

* Limited change in OIS pricing on the day, but a decent re-price on the week.

1y1y and 2y1y up 9-11bp. This is likely reflects a natural pullback - at one

point the market was pricing in an ECB depo rate of ~ -0.80%; likely implying a

significant degree of tiering in order to mitigate the hit on bank

profitability. 

* This could be the beginning of a readjustment in market expectations re the

September meeting. Despite Olli Rehn's recent talk of a "very strong package"

being delivered, the current technical constraints (particularly around the

issuer/issue limits) carry the risk of the ECB disappointing.