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.