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

SONIA: The front end of the Sonia curve is modestly flatter in early Wednesday
morning trade compared to Tuesday's close reacting to newswire reports of Tory
Euro-sceptic MPs setting out red-lines to PM May. While Politico reports that
David Davis is to give UK's response to EU's transitional proposals in
parliament today. It is a busy day in the UK with both Labour market data and
public borrowing numbers crossing the wires at 0930GMT. While BoE Carney,
Broadbent, Haldane & Tenreyro appear at TSC hearing from 1415GMT. MNI PINCH
calculate 78.5% chance of a hike in May-18. Current levels in short end Sonia:-
* 6-mth +0.2bp at 0.592%
* 9-mth -0.1bp at 0.653%
* 12-mth -0.1bp at 0.712%
* 15-mth -0.2bp at 0.761%
* 18-mth -0.2bp at 0.807%
* 21-mth -0.3bp at 0.849%
* 2-yr -0.3bp at 0.889%
* 3-yr -0.6bp at 1.02%

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