The front end of the Sonia curve has..........>

SONIA: The front end of the Sonia curve has shifted higher in early Thursday

morning trade compared to Wednesday's close as US softens its stance on metal

tariffs with an initial exemption for both Canada and Mexico and possibly

others. Looking ahead little data from the UK today, so attention will be on ECB

monetary policy decision at 1245GMT followed by the press conference at 1330GMT.

While further actions from the US administration on Tariffs will be closely

eyed. MNI PINCH calculate 78% chance of a hike in May-18 and a 57% chance of a

second rate hike in November. Current levels in short end Sonia:-

* 6-mth +0.5bp at 0.618%

* 9-mth +0.6bp at 0.677%

* 12-mth +0.4bp at 0.728%

* 15-mth +0.5bp at 0.775%

* 18-mth +0.4bp at 0.817%

* 21-mth +0.4bp at 0.855%

* 2-yr +0.3bp at 0.891%

* 3-yr +0.5bp at 1.008%