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

SONIA
SONIA: The front end of the Sonia curve is slightly steeper in early Thursday
morning trading compared to Wednesday's close as latest UK GfK consumer
sentiment ticked higher to -10 from -12. Looking ahead markets will be keeping
an eye on comments from BoE MPC member Michael Saunders at 0825BST, release of
Eurozone flash CPI at 1000BST and then likely Brexit press briefing from David
Davis and Michal Barnier. MNI PINCH now see markets pricing a 41% chance of a
25bp rate hike in Feb 2018 and the following levels in BoE forward dated Sonia:-
- Sep-17 unchanged at 0.217%
- Nov-17 unchanged at 0.267%
- Dec-17 unchanged at 0.269%
- Feb-18 unchanged at 0.318%
- Mar-18 0.3bp higher at 0.312%
- May-18 0.4bp higher at 0.351%
- Jun-18 0.4bp higher at 0.355%
- Aug-18 0.4bp higher at 0.384%

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