In yesterday's midday GMT STIR update, we......>

STIR: In yesterday's midday GMT STIR update, we wrote that none of the front 16

contracts across Eurodollar futures, Euribor futures or short sterling futures

had moved more than 1.5 ticks on the day. This is true again today.

- The biggest moves have been seen across the Eurodollar strip. Whites are

within half a tick of yesterday's close while Reds, Greens and Blues are

generally 1-1.5 ticks lower on the day. Headlines have suggested that President

Trump will declare a state of emergency in order to reallocate some military

spending to fund the wall. This afternoon's data highlights will see the release

of IP data for Jan and Michigan confidence for Feb. Bostic is also due to speak.

- White, Red and Green Euribor futures are all within half a tick of yday's

close while Blues are 1-1.5 ticks lower on the day. Spain has announced it will

hold snap elections on April 28.

- Short sterling has seen little follow through after the government was once

again defeated in a Brexit vote. Retail sales came in stronger than expected but

there was little market reaction. Whites are flat to half a tick lower on the

day, Reds and Greens flat on the day while Blues are 1 tick lower on the day.