There has been a bit of a divergence in STIR...>

STIR: There has been a bit of a divergence in STIR markets this morning.

Eurodollar futures are the biggest movers on the day with Whites down 1.5-4.5

ticks, Reds down 4-5 ticks, Greens down 3-4 ticks and Blues down 2-2.5 ticks.

There is little in the way of notable headlines driving the moves but a risk-on

tone is present in markets this morning. Asian equities are higher, as are

European equities. There is a stream of US data today with personal income and

spending, the MNI Chicago Business Barometer, new home sales and Michigan

confidence with a couple of Fed speakers due up today too.

- The Euribor strip is unch at the front end but Z0-Z3 contracts are 1-1.5 ticks

lower on the day. Data this morning has been mixed with French inflation a

little lower than exp and Italian inflation a little higher. Spanish retail

sales and GDP were in line with exp.

- The short sterling strip is unch to a tick higher across the curve with

today's withdrawal agreement not expected to pass as the DUP continue to state

that they will vote against.