It has been an extremely quiet day for STIR....>

STIR: It has been an extremely quiet day for STIR markets.

- The short sterling strip has risen 1-2 ticks on the day, retracing some of

yesterday's moves. Yesterday, PM May survived a no confidence vote (as widely

expected) and there has not been much in terms of headline trading today. The

data calendar in the UK has also been pretty light with the BoE's credit

conditions survey the only data release of the day.

- In Europe it has been an even quieter day with the vast majority of the

Euribor futures strip unchanged today, with a couple of contracts 0.5 ticks

lower. Again, there have been no real notable headlines or data releases in

Europe (other than the confirmation of the final CPI print in line with flash).

- The Eurodollar strip has moved 1-1.5 ticks higher on the day. Quarles is the

only Fed speaker scheduled for the day with the Philly Fed and claims data the

only notable data releases.