Eurodollar futures markets have remained.......>

STIR: Eurodollar futures markets have remained fairly volatile through the

European morning session as the market continues to digest yesterday's dovish

FOMC meeting. At the time of writing, the Eurodollar strip has seen the biggest

moves around the Z9-Z0 area. Whites and Reds are 3.5-5.5 ticks higher than

yesterday's settlement, Greens 2-3.5 ticks higher and Blues 1.5 ticks higher.

- The short sterling strip has flattened this morning with Whites unch to 1.5

ticks higher, Reds 1.5-2.5 ticks higher and Greens and Blues 3.5-4 ticks higher.

The Bank of England are due to release their statement and Minutes at midday BST

with a unanimous on hold decision expected but risks tilted towards a more

hawkish set of Minutes and the possibility of a hawkish dissent. However, as we

noted in our preview, a dissent from Saunders would not move the market too much

but a dissent from Haldane or Broadbent would be more significant. However, with

the prospect of a no deal Brexit still a real possibility, the bar to pricing in

substantially more hikes is high. The final 3 Tory leadership candidates are

expected to be announced around 13:00BST with the final 2 around 18:00BST.

- Euribor Whites/Reds largely unch today, Greens/Blues 1 tick higher.