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

SONIA
SONIA: The front end of the Sonia curve is modestly steeper in early Thursday
morning trade compared to Wednesday's close as markets trade with a risk-on feel
with US Treasuries and Eurodollar futures selling-off overnight. While TICS
house price balance jumped to 8 in Dec from -1 in Nov. Brexit risk notched
higher on news that an early transitional deal is not a "forgone conclusion"
sources told the Telegraph. Looking ahead there is no Data from the UK, so
attention will turn to US housing starts and initial jobless claims. MNI PINCH
calculate 43% chance of a hike in May 2018. Current levels in short end Sonia:-
* 6-mth +0.2bp at 0.511%
* 9-mth +0.4bp at 0.556%
* 12-mth +0.6bp at 0.604%
* 15-mth +0.6bp at 0.643%
* 18-mth +0.8bp at 0.679%
* 21-mth +0.8bp at 0.712%
* 2-yr +1bp at 0.744%
* 3-yr +1.1bp at 0.844%

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