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MARKET INSIGHT

After huge moves in STIR markets yesterday particularly in Europe (up to 34 ticks moves in Euribor futures, 30 ticks in SONIA futures and 11 tick moves in Eurodollar futures), we have seen a very small retracement this morning so far.

  • This morning the main data release will be the German IFO while the afternoon will see the final print of Michigan confidence alongside US new home sales.
  • We will also have a number of central bank speakers with ECB's Centeno, de Cos and de Guindos, the Fed's Bullard and Daly and the BOE's Pill and Haskel.

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