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

SONIA
SONIA: The front end of the Sonia curve is marginally steeper in early Wednesday
morning trade compared to Tuesday's close as markets react to Fed Chair Yellen
comments yesterday and await Trump's tax reform announcement. there is limited
UK data released today so attention likely to be on the US with durable goods
and pending home sales released later. While central bank comments are
restricted to Fed's Kashkari, Bullard and Brainard. MNI PINCH now see markets
pricing a 80% chance of a 25bp rate hike in Nov 2017 and following levels in BoE
forward dated Sonia:-
* Nov-17 -0.2bp at 0.409%
* Dec-17 -0.1bp at 0.433%
* Feb-18 -0.1bp at 0.527%
* Mar-18 +0.1bp at 0.544%
* May-18 +0.1bp at 0.638%
* Jun-18 -0.1bp at 0.644%
* Aug-18 +0.1bp at 0.707%
* Sep-18 +0.7bp at 0.719%

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