Free Trial

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

SONIA
SONIA: The front end of the Sonia curve is modestly flatter in early Friday
morning trade compared to Thursday's close as on slight risk off flows. There is
a dearth of UK and Eurozone data released today, however BoE releases its
quarterly bulletin at 1200GMT and BoE Vlieghe speaks in Birmingham at 1230GMT.
Attention will also be on US data this afternoon and any comments on trade
tariffs, while EU summit continues in Brussels were a Brexit transitional deal
is expected to get rubber stamped. MNI PINCH calculate a 86% chance of a hike in
May-18. Current levels in short end Sonia:-
* 6-mth unch at 0.647%
* 9-mth +0.1bp at 0.704%
* 12-mth +0.3bp at 0.757%
* 15-mth unch at 0.804%
* 18-mth -0.1bp at 0.849%
* 21-mth -0.2bp at 0.889%
* 2-yr -0.3bp at 0.926%
* 3-yr -0.7bp at 1.032%

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.