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STIR futures have edged higher this morning....>

STIR
STIR: STIR futures have edged higher this morning but the main event of the day
is of course the FOMC meeting.
- Eurodollar Whites, Reds, Greens and Blues have moved 1.5 ticks higher in a
largely parallel move. A 25bp cut is largely baked into prices, but the
communication will be key. If the cut is described as a one and done, the strip
will likely sell off, if it is described as the start of an easing cycle, the
strip will rally.
- The Euribor and short sterling strips have largely moved higher in sympathy
with the Eurodollar strip.

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