The short sterling and Euribor strips have.....>

STIR: The short sterling and Euribor strips have been leading the way this

morning with the Eurodollar strip moving slightly higher too.

- The short sterling strip opened higher after stories overnight suggested that

the Brexit proposals submitted by Prime Minister Boris Johnson may not be

acceptable to Brussels. The strip was also helped higher by a disappointing

services PMI which fell below 50. This marked the first time that all three UK

PMIs were below 50 since July 2016. Whites are up 2-4 ticks while the rest of

teh strip is generally 3-4 ticks higher.

- European service PMIs generally also disappointed, with the exception of

Italy. The Euribor strip has flattened. Whites are up 0.5-1 tick, Reds 1-1.5

ticks higher, Greens 1.5-2 ticks higher and Blues 2-3 ticks higher.

- The Eurodollar strip has seen Greens and Blues move 0.5-1.5 ticks higher but

smaller moves through Whites and Reds. There are a number of Fed speakers due up

today while claims, ISM non-manufacturing, factory orders and a final print of

durable goods are all due for release.