Short Sterling Futures: firm start despite broad risk-on sentiment

UK STIRs are probing higher again (1-2 ticks ahead from the Jun18 contract out), and with no real macro news to warrant another uptick, this looks largely Brexit-related amidst latest reports indicating that the EU will adopt a tough stance on trade when phase 2 of the negotiations kick off in earnest. Conversely, Gilts have resumed Liffe on the back foot within a 125.47-40 range vs the previous 125.47 settlement after a deeper downturn in Bunds on better volume as core debt concedes more ground to the periphery and in anticipation of a firmer start to the week for EU cash bourses. Note, Bunds just declined to a fresh 163.32 Eurex low (-15 ticks vs +4 ticks at the high). Back to the UK, CBI Trends ahead, but not normally a market-mover.    

18 Dec 2017 - 08:04- - Source: ransquawk

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