STIR futures are generally down a little.......>

STIR: STIR futures are generally down a little this morning with curves slightly

steeper on the back of better than expected Chinese GDP which came in at 6.4%

against expectations of 6.3%.

- Short sterling futures are off the lows of the day following the slightly

softer CPI data, which came in at 1.9%Y/Y against expectations of a rise to

2.0%, and continued falls in the pace of UK house price growth. Whites and Reds

are 0.5-1 tick lower while Greens are 1-1.5 ticks lower and Blues are 1.5-2

ticks lower.

- Eurodollar Whites and Reds are generally down 0.5 ticks with Greens 1-1.5

ticks lower and Blues 2 ticks lower.

- There have been no real surprises in the European data this morning with final

CPI and trade prints. Euribor Whites are unch, Reds 0.5-1 ticks lower and Greens

and Blues 1.5-2 ticks lower.