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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 Monday
morning trade compared to Friday's close as markets digest weekend news reports
on Brexit. Boris Johnson said he would be penning the case for a "liberal
Brexit", while PM May said Brexit plans would not be "derailed" by anti-Brexit
campaigners. While EU Chief negotiator Barnier said that the UK can't have a
bespoke trade deal. Markets will be quietening down ahead of Christmas break now
but CBI trends is released at 1100GMT. MNI PINCH calculate a 37% chance of a
rate hike in May 2018 & see following levels in short end Sonia:-
* 6-mth +0.1bp at 0.49%
* 9-mth -0.1bp at 0.527%
* 12-mth -0.2bp at 0.56%
* 15-mth -0.1bp at 0.588%
* 18-mth -0.3bp at 0.613%
* 21-mth -0.3bp at 0.638%
* 2-yr -0.3bp at 0.662%
* 3-yr -0.5bp at 0.738%

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