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

SONIA
SONIA: The front end of the Sonia curve is modestly bear steepening in early
Monday morning trade compared to Friday's close as weekend news reports further
concessions from the UK in latest Brexit negotiations in order to get a
transitional deal signed off this week. However the Irish boarder still remains
a large sticking point. Markets also looking ahead to a raft of UK data and BoE
MPC meeting this week. Davis and Barnier are expected to hold press conference
later today. MNI PINCH calculate 80.5% chance of a hike in May-18 and a 53.5%
chance of a second rate hike in November. Current levels in short end Sonia:-
* 6-mth +0.5bp at 0.634%
* 9-mth +0.5bp at 0.69%
* 12-mth +0.5bp at 0.739%
* 15-mth +0.5bp at 0.782%
* 18-mth +0.5bp at 0.822%
* 21-mth +0.5bp at 0.858%
* 2-yr +0.5bp at 0.891%
* 3-yr +0.7bp at 0.995%

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