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It has been a very quiet pre-payrolls..........>

STIR: It has been a very quiet pre-payrolls European morning session across
markets and STIR futures have been no exception. There has been a slight risk-on
feel to markets as US-China trade talks continue with headlines suggesting a
"new consensus" had been reached although a deal is still not ready yet. In the
UK, Theresa May has sent a letter to the EU formally requesting an extension to
Article 50 to June 30 but overnight reports have suggested the EU will offer a
"flextension" - an extension of one year with an early break clause if the UK
passes a deal.
- Eurodollar Whites are 0.5-2 ticks lower, Reds and Greens 2-3 ticks lower and
Blues 1.5-2.5 ticks lower. The US employment report will be key following last
month's disappointment.
- The short sterling strip has steepened. Whites are unch to 1 tick lower, Reds
2-3.5 ticks lower while Greens and Blues are 3.5-4.5 ticks lower.
- The Euribor curve is unch to 1 tick lower.

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