Risk has been on the front foot in markets.....>

STIR: Risk has been on the front foot in markets this morning, with expectations

that China and the US building with an announcement expected Thursday morning

Chinese time.

- This has helped STIR markets move lower with Short Sterling, Euribor and

Eurodollar strips all down 1.5-2.5 ticks across the curve.

- In the UK, focus is switching to Brexit with media reports suggesting that the

Speaker is to select the Grieve amendment which would mean that if the

government loses the meaningful vote next week (as is expected), the govt must

set out their next plan of action within 3 days. The Brexit debate also begins

in the House of Commons this afternoon with headline risks to UK markets

escalating.

- In the US we receive the Fed Minutes later today with Fed members Bostic,

Evans and Rosengren all dues to speak on the economic outlook today. Reuters

also reported that Fitch had stated that the US is at risk of losing its AAA

rating if the debt ceiling becomes a problem, and they attached more importance

to the debt ceiling than the government shutdown.