More Brexit uncertainty....after many back.....>

STIR: More Brexit uncertainty....after many back and forth headlines, Theresa

May confirmed that the vote on her Brexit deal which was originally scheduled

for tomorrow, will not now go ahead. May will now go back to Brussels to try and

negotiate a better deal. There is no update on when a rescheduled vote would

happen (except it must happen by Jan 21).

- Short sterling has rallied substantially today and is still rising at the time

of writing, with Greens and Blues 8-9 ticks higher on the day. Reds are 5.5-8

ticks higher while Whites are up to 5 ticks higher.

- The Eurodollar curve has been dragged higher too, with the curve up 2-5 ticks.

- The Euribor curve has stayed remarkably calm against this backdrop, with all

contracts within 0.5 ticks of Friday's close. Implied rates on Swedish FRAs have

recovered after falling on the back of weak consumption data this morning, with

the curve now largely unchanged to Friday's close.

- Norwegian FRA implied rates are 1.5-2.5bp higher across the curve following

higher than expected CPI this morning.