Following soft German and Spanish......>

STIR FUTURES: Following soft German and Spanish inflation data, the Euribor

futures strip has moved higher and flattened a little today. Whites are flat to

0.5 tick higher, Reds 0.5-1 tick higher while Greens and Blues are largely 1.5

ticks higher.

- The short sterling futures strip has also flattened and moved higher today, in

spite of some better than expected mortgage approvals. Whites are 0.5-1.5 ticks

higher, Reds 2-3.5 ticks higher while Greens and Blues are 3.5-4.5 ticks higher.

- The Eurodollar strip has pared some of the losses from the sell-off in the

European morning session and at the time of writing continues to move a little

higher following poor pending home sales data. Most of the strip is now within

0.5 ticks of yesterday's close.