STIR futures have been moving higher today,....>

STIR: STIR futures have been moving higher today, being fuelled higher by wider

market risk-off sentiment following Trump's announcement that a tariff of 5%

will be added to Mexican imports, with a ratchet to 25% by October. Trade terms 

- Eurodollar futures have seen the brunt of the move with the H0-U1 area of the

strip seeing the biggest moves, rising by 10-11 ticks since yesterday's close.

All of these contracts are at least 20 ticks higher than last week's close.

There has been a significant flattening in the White area of the strip with

Blues up 8-9 ticks today.

- In Europe, the Euribor futures strip also continues to move higher. As an

example, so far through May the Dec-2020 future has only closed lower on 2 days.

The strip today is another 0.5-2.5 ticks higher.

- The short sterling strip also continues its march higher with Whites 0.5-2.5

ticks higher, Reds 3-4 ticks higher and Greens and Blues 4.5-5 ticks higher.