STIR markets, particularly in Europe, have.....>

STIR: STIR markets, particularly in Europe, have taken a bit of a pause for

breath after yesterday's large moves.

- The short sterling strip saw a significant sell off yday following further

Brexit optimism. After hitting a nadir at around 16:00GMT, contracts retraced a

little into a the close and at the beginning of today's morning session.

However, in the middle of the European morning session, short sterling contracts

began to pare their gains again. Whites, Reds and Greens contracts are now all

within 0.5 ticks of yday's close. Blues are 0.5-1.5 ticks higher on the day.

- Euribor futures are unch to a little lower on the day. After being dragged

lower by short sterling yday (particularly in the Green and Blue area), the

strip moved a little higher on the open but has reversed those gains with Greens

and Reds pushing lower still, down 0.5-1 tick on the day. We have received

Italian CPI (in line with exp) and German regional CPIs through the morning

point to a national CPI print in line with or a little higher than exp.

- Eurodollar futures have seen Reds, Greens and Blues move 1.5-2 ticks higher on

the day on the back of a breakdown of talks between Trump and Kim.