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

SONIA: The front end of the Sonia curve is modestly flatter in early Friday

morning trading compared to Thursday's close, as markets trade with a mild

risk-off tone following terror attacks in Barcelona. While concerns over the

Trump administration continue to weigh on equity markets. Little data from the

UK or Eurozone today, so attention likely on any further US political comments

or rumours. MNI PINCH now see markets pricing a 40.5% chance of a 25bp rate hike

in Feb 2018, and the following levels in BoE forward dated Sonia:-

- Sep-17 0.1bp lower at 0.216%

- Nov-17 0.2bp lower at 0.270%

- Dec-17 0.3bp lower at 0.271%

- Feb-18 0.7bp lower at 0.315%

- Mar-18 0.9bp lower at 0.311%

- May-18 0.9bp lower at 0.348%

- Jun-18 0.8bp lower at 0.352%

- Aug-18 0.9bp lower at 0.375%