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

SONIA
SONIA: The front end of the Sonia curve is modestly flatter in early Tuesday
morning trade compared to Monday's close as UK GfK consumer confidence ticks
lower in October with concerns over near-term economic outlook. While Financial
Times reports that Hammond will not break his fiscal rules to increase public
spending and the BBC reports the BoE telling banks to prepare for "no deal" on
Brexit and thinks 75k jobs could be lost. MNI PINCH see markets pricing a 88%
chance of a 25bp rate hike in Nov 2017 and following levels in BoE forward dated
Sonia:-
* Nov-17 unch at 0.435%
* Dec-17 unch at 0.448%
* Feb-18 unch at 0.542%
* Mar-18 -0.1bp at 0.546%
* May-18 -0.3bp at 0.623%
* Jun-18 -0.6bp at 0.625%
* Aug-18 -0.5bp at 0.682%
* Sep-18 -0.2bp at 0.689%

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