Moves in STIR markets have been fairly.........>

STIR: Moves in STIR markets have been fairly constrained so far today, with the

market having settled down somewhat after the Fed decision and moving into a bit

of a holding pattern ahead of today's US employment report and ISM

manufacturing. Across the Eurodollar curve Whites, Reds and Greens are all

within 0.5 ticks of yesterday's close with Blues moving 0.5-1.5 ticks higher on

the day.

- The Euribor strip has shifted a little lower today in spite of poor Italian

PMI manufacturing data. Whites are flat to 0.5 ticks lower on the day, Reds

0.5-1 tick lower and Greens and Blues 1 tick lower on the day.

- In contrast the short sterling strip has shifted slightly higher today. The

PMI manufacturing missed expectations, with the underlying details suggesting

that the print would have been even lower had it not been for stockpiling ahead

of Brexit. Whites are 1-1.5 ticks higher, Reds and Greens 2-2.5 ticks higher and

Blues 1.5-2 ticks higher.