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It has been a very quiet European......>

STIR FUTURES
STIR FUTURES: It has been a very quiet European morning session and no real news
seems to be good news as far as STIR markets are concerned with the Eurodollar,
short sterling and Euribor strips all lower on the day.
- The Eurodollar strip has seen the biggest moves, particularly around 12-18
month area. The front-end of the curve has steepened with the H9 contract down
1.5 ticks but H0 and M0 contracts down 5 ticks. The rest of the strip has moved
a little lower with Greens 2.5-3.5 ticks lower and Blues 2-2.5 ticks lower.
President Trump will make a televised interview where he is expected by some to
declare a national emergency in the face of the ongoing government shutdown.
- Short sterling Whites are 0.5-1 tick lower but the rest of the curve is 2-3
ticks lower. There were media reports (later denied) that the EU is preparing to
delay the date it leaves the EU if May's deal fails to pass the House by a large
margin.
- The Euribor curve has also steepened at the short-end with Whites flat to 1
tick lower, Reds 1.5-3 ticks lower, Greens and Blues are 2.5-3.5 ticks lower.

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