It has been another quiet morning in STIR......>

STIR: It has been another quiet morning in STIR markets with the Eurodollar

futures strip 1-2 ticks higher on the day, Euribor futures flat to 1 tick higher

on the day and the Short sterling strip unchanged in Whites and Reds but Greens

and Blues 0.5-1.5 ticks higher on the day.

- In Europe, the main relevant headline has been Peter Praet's comments on

TLTROs. He downplayed expectations that they would be introduced in the March

meeting.

- In the UK, the focus has again been on politics with three Tory MPs defecting

to join the newly created TIG along with the eight Labour MPs who defected

earlier this week.

- In the US focus will be on the FOMC Minutes at 1900GMT. Note that the lockup

today has been cancelled due to the snow in DC. The Minutes will therefore be a

live release with no AlphaFlash event.