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STIR markets have seen a rather more muted.....>

STIR: STIR markets have seen a rather more muted European morning session with
the only real noteworthy moves seen on or shortly after the open.
- The Eurodollar strip has bear steepened in the White area, retracing some of
the recent moves and most of the rest of the strip is down 6-6.5 ticks. However,
the vast majority of this move actually happened yesterday shortly after the
- The short sterling curve has bear steepened through Whites and Reds with
Whites unch to 0.5 ticks lower, Reds 1-4 ticks lower and Greens and Blues 5-5.5
ticks lower. Most of the move lower was either seen late yesterday or on the
open today.
- The Euribor strip is also off its highs with Whites 0.5-1 tick lower and the
rest of the strip 1.5-2 ticks lower.

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