STIR markets have been a little subdued this...>

STIR: STIR markets have been a little subdued this morning with no major futures

contracts moving more than 2.5 ticks.

- The Eurodollar strip has seen the biggest moves with Whites mixed, but Reds,

Greens and Blues down 1.5-2.5 ticks on the day. This is a combination of follow

through from the strong labour market report on Friday and reaction to the Fed's

Kashkari's comments that Fed Powell is "coming around" to waiting to see the

next few months data before starting to raise rates again.

- It has been a quiet morning in the Eurozone with al contracts in the strip

either unchanged on the day or 0.5 ticks lower. Tomorrow we see the final

service PMI prints while later in the week we see a number of countries

reporting industrial production and German trade numbers due for release.

- The short sterling strip has flattened with Whites and Reds flat to 1 tick

lower and Greens and Blues flat to 2 ticks higher. Tomorrow's services PMI will

be closely watched ahead of the BoE rate decision and Inflation Report on

Thursday where the focus will be on updated forecasts and the Bank's updated

view of potential growth/NAIRU.