It has been a pretty uneventful morning in.....>

STIR: It has been a pretty uneventful morning in STIR markets.

- The highlight on the data calendar has been the release of UK labour market

data which saw wages surprise positively, the unemployment rate unexpectedly

fall and employment rise at 222k on a 3m/3m basis. The employment data was so

strong that the release was in the 97th percentile. However, in spite of this

data there was almost no reaction in STIR markets. Indeed the short sterling

strip is generally only 0.5 ticks lower on the day. Brexit is the only game in

town for UK markets.

- The Euribor curve has flattened today with Whites down 0.5 ticks, Reds and

Greens largely unch on the day and Blues 0.5-1 tick higher on the day. The

German ZEW survey was mixed with the expectations component much better than

expected but the current situation was worse.

- The Eurodollar futures strip has seen Whites unch to 1 tick higher on the day

with the rest of the strip 1 tick higher. Factory orders and the final release

of durable goods are the data highlights for the day ahead.