There have been some very significant moves....>

STIR: There have been some very significant moves in STIR markets this morning.

This has largely been driven by further deterioration of US-China trade talks

and the PBOC allowing USDCNY to move through the psychological 7 level this

morning.

- The Eurodollar strip has borne the brunt of the move in STIR futures. The Sep

2019 future is up 6 ticks with other White and Reds up 12-13.5 ticks on the day.

Greens are up 10-11.5 ticks and Blues 9.5-10 ticks.

- The Short sterling strip has bull flattened, partly helped by US-China trade

but also helped by further headlines over the weekend suggesting the probability

of both a general election and no deal Brexit have risen. Whites are unch to 3

ticks higher, Reds 3-4.5 ticks higher, Greens 5-6.5 ticks higher and Blues 6.5-7

ticks higher.

- The Euribor curve has seen Whites unch to 0.5 ticks higher, Reds 1.5 ticks

higher, and Greens and Blues 2-2.5 ticks higher.