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

SONIA
SONIA: The front end of the Sonia curve is bear flattening in early Tuesday
morning trading compared to Monday's close as markets continue to digest
comments from both BoE Carney and PM May yesterday. Carney warned of
considerable risks but that stimulus may be needed to be withdrawn in coming
months. While the press are working overtime ahead of May's Brexit speech on
Friday highlighting differences with the cabinet. MNI PINCH now see markets
pricing a 73% chance of a 25bp rate hike in Nov 2017 and following levels in BoE
forward dated Sonia:-
- Nov-17 0.1bp higher at 0.397%
- Dec-17 0.3bp higher at 0.423%
- Feb-18 0.7bp higher at 0.523%
- Mar-18 0.5bp higher at 0.538%
- May-18 0.2bp lower at 0.620%
- Jun-18 0.1bp lower at 0.625%
- Aug-18 unchanged at 0.671%
- Sep-18 unchanged at 0.687%

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