Free Trial

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

SONIA
SONIA: The front end of the Sonia curve is modestly flatter in early Monday
morning trading compared to Friday's close, as markets trades with a slightly
risk-off tone. Looking ahead the BoE release latest M4 money supply and lending
to individuals data at 0930BST. While the main will occur towards the end of the
week with BoE monetary policy decision, MPC statement and August inflation
report all on Thursday. Then US non-farm payroll data on Friday. MNI PINCH now
see markets pricing a 57% chance of a 25bp rate hike in Feb 2018, down from 61%
on Friday close, and the following levels in BoE forward dated Sonia:-
- Aug-17 0.1bp lower at 0.226%
- Sep-17 0.3bp lower at 0.235%
- Nov-17 0.5bp lower at 0.304%
- Dec-17 0.8bp lower at 0.303%
- Feb-18 0.9bp lower at 0.353%
- Mar-18 0.7bp lower at 0.344%
- May-18 0.8bp lower at 0.384%
- Jun-18 1.1bp lower at 0.386%

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.