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The front end of the Eonia curve is little....>

EONIA
EONIA: The front end of the Eonia curve is little changed in early Thursday
morning trading compared to Wednesday's close despite German ILO unemployment
drops to 3.7% from 3.8% and French flash HICP rises to 1.0% y/y from 0.8% y/y.
Looking ahead the key data release will be Eurozone flash CPI at 1000BST with a
slight upside risk seen to consensus of 1.4% y/y, following higher German &
Spain HICP yesterday. Market calculates around a 4% chance of a 10bp rate hike
in Mar 2018, and only rising to 16% in June 2018. MNI see 1y/1y Eonia 0.4bp
lower at -27.6bp & following levels in ECB forward dated Eonia.
- Sep-17 0.1bp higher at -0.353%
- Oct-17 0.1bp lower at -0.354%
- Dec-17 0.1bp lower at -0.355%
- Jan-18 0.1bp lower at -0.358%
- Mar-18 0.1bp lower at -0.354%
- Apr-18 0.1bp lower at -0.353%
- Jun-18 unchanged at -0.342%
- Jul-18 unchanged at -0.340%

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