Yesterday saw big moves and big volume in......>

STIR: Yesterday saw big moves and big volume in STIR futures, particularly in

the US. 10 our of the front 16 Eurodollar contracts saw their highest ever daily

volumes.

- Today Eurodollar futures are more stable with reds, greens and blues all

within 0.5bp of yesterday's close. However, the H9 and M9 contracts are 2bp and

1.5bp higher respectively.

- The US employment report will set the tone for the rest of the day in both the

US and the rest of the world, see POV: NFP RISK WEIGHTED TOWARD USD DOWNSIDE at

9:42GMT.

- Euribor and Short Sterling have both sold off a little this morning with reds

and greens 1-2bp lower. Short sterling blues have underperformed Euribor blues

this morning. Whites in both are within a basis point of yesterday's close.

- Implied rates on Norwegian FRAs are moving in line with Euribor this morning

but implied rates on Swedish FRAs have fallen. Most Swedish FRA implied rates

are down 1-2bp on the day but the M9, Z9 and Z0 contracts have all fallen

slightly more.