STIR futures have barely budged over the.......>

STIR: STIR futures have barely budged over the past four hours since North

America got into the office. There have been a number of large liquidation

trades today, particularly in short sterling.

- The short sterling strip remains steeper on the day with Whites flat to 1.5

ticks lower, Reds 2-4 ticks lower and Greens and Blues 4.5-5 ticks lower.

Following last night's landslide defeat for the government on the Brexit vote,

Labour have called a vote of no confidence which is to be held at

1900GMT/1400ET. It is unlikely that May will lose the vote with the DUP and ERG

both confirming that they will support May in the vote. Implied probabilities

from betting markets show lower probabilities of the UK leaving the EU on March

29.

- Euribor White futures are largely unchanged on the day but the rest of the

strip is 1.5-2.5 ticks lower, largely pulled lower by the moves in short

sterling.

- Eurodollar futures have also barely budged since the North American open with

Whites 1-2.5 ticks lower and the rest of the strip 3 ticks lower.