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

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

sterling strip has moved higher as Brexit concerns continue to linger with the

strip up 1-1.5 ticks across the curve. CPI data only saw a very small reaction

from the market with the headline print coming in a tenth higher than expected,

but core a tenth weaker than expected.

- The Eurodollar curve has also drifted higher today with most of the strip up

1.5-2 ticks (Whites are within 0.5 ticks of yesterday's close). The focus for

the day will be on the FOMC meeting. The SEPs will be key, with 0-1 hikes

expected to be signalled for 2019 and balance sheet runoff expected to end in

H2-2019. The press conference will also be closely watched. 

- The Euribor strip has bucked the trend, moving a little lower on the day with

the strip down 0.5-1 ticks, with the biggest moves seen in the Reds.