It has been a busy day so far in STIR..........>

STIR: It has been a busy day so far in STIR markets with Eurodollar futures

leading the way. After moving higher through the London morning session, the

strip took another move higher following the confirmation that China would

retaliate to the US's announcement that it would impose tariffs on Chinese goods

by imposing tariffs on US goods.

- At writing, the M0 Eurodollar contract has seen the biggest move and is 11

ticks higher (it had been 12 ticks higher a little earlier). Other Reds

contracts are 10.5 ticks higher with Greens 8.5-10 ticks higher and Blues 7-8.5

ticks higher while the curve has flattened significantly in the White area.

- The short sterling strip has been pulled higher with most of the strip 2-2.5

ticks higher on the day (Whites have moved less) while the Euribor strip is unch

to 1 tick higher on the day.