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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 Friday
morning trade compared to Thursday's close as President Trump signs off on trade
tariffs, however has also agreed to meet with N.Korea president Kim by May.
Looking ahead UK industrial and trade balance data is released at 0930GMT today
with expectations of a rebound in production. US non-farm payroll and earnings
data will be keenly eyed this afternoon. MNI PINCH calculate 80.5% chance of a
hike in May-18 and a 56.5% chance of a second rate hike in November. Current
levels in short end Sonia:-
* 6-mth +0.1bp at 0.617%
* 9-mth +0.2bp at 0.676%
* 12-mth +0.4bp at 0.729%
* 15-mth +0.3bp at 0.774%
* 18-mth +0.6bp at 0.817%
* 21-mth +0.6bp at 0.856%
* 2-yr +0.8bp at 0.894%
* 3-yr +1.2bp at 1.014%

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