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

SONIA
SONIA: The front end of the Sonia curve is marginally flatter in early Wednesday
morning trade compared to Tuesday's close as David Davis tries to meet Tory
rebel demands for a 'meaningful vote' on final Brexit deal by saying "UK will
not ratify" the deal without parliament approval. Markets looking ahead to key
UK Labour market data at 0930GMT, with consensus seeing unemployment dropping to
4.2% from 4.3% and average weekly earnings rising to 2.5% from 2.2%. Then
attention on US CPI data and FOMC rate decision. MNI PINCH calculate a 44%
chance of a rate hike in May 2018 & see following levels in short end Sonia:-
* 6-mth unch at 0.5%
* 9-mth +0.1bp at 0.536%
* 12-mth unch at 0.572%
* 15-mth unch at 0.604%
* 18-mth -0.1bp at 0.633%
* 21-mth unch at 0.662%
* 2-yr -0.1bp at 0.688%
* 3-yr -0.3bp at 0.776%

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