STIR futures have edged higher this....>

STIR FUTURES: STIR futures have edged higher this morning on the back of

disappointing PMI prints from France.

- The Euribor strip has flattened with Whites 0.5 ticks lower, Reds flat to 2

ticks higher, Greens 2-3 ticks higher and Blues 3.5-4 ticks higher. The ECB

press conference at 13:30 should provide more information on how the Governing

Council have viewed the continuing slow down in data and whether policy

normalisation is still on the cards for later this year.

- The short sterling strip has moved higher this morning as concerns about the

global economy continue to linger. Press reports continue to point towards an

increasing probability of the UK remaining in the EU past the March 29 date but

as with the previous few days, markets are largely ignoring individual

headlines. Short sterling Whites are 0.5-1 tick higher, Reds 1.5-2.5 ticks

higher and Greens and Blues 3-3.5 ticks higher on the day.

- The Eurodollar strip has gradually moved higher through the European session

with only tier two data due for release today. Whites are 0.5-1.5 ticks higher,

Reds 2-2.5 ticks higher and Greens and Blues are 3-4 ticks higher on the day.