Risk off sentiment has been driving markets....>

STIR: Risk off sentiment has been driving markets today. The mood began to sour

in the Asian session on headlines that Chinese President Xi Jinping said that

"no one is in the position to dictate to the Chinese people what should and

should not be done." Oil prices have also been hit hard as well as a broad

equity market sell-off.

- This risk-off sentiment has led to STIR markets rallying across the board, led

by the US.

- The Eurodollar strip is higher across the board with Whites 4-6 ticks higer,

Reds 6-7 ticks higher, Greens 4-6 ticks higher and Blues 3.5-4 ticks higher. The

H9 contract is not at its highest level since June 7 while the Z0 contract is at

its highest level since Feb.

- The Euribor strip has also shifted higher, with Reds, Greens and Blues

generally 2.5 ticks higher with the curve flattening in the White area.

- The Short Sterling strip has flattened in the Green and Blue area. Whites and

Reds are 0.5-1 tick higher, Greens 1.5-2.5 ticks higher and Blues 2-4 ticks

higher.