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

SONIA
SONIA: The front end of the Sonia curve is flatter in early Wednesday morning
trade compared to Tuesday's close supported by announcement that Catalonia is
likely to declare independence in the next few days, while Trump has been given
a short list of Fed Chair nominees that does not included Yellen. Main events
today will be service PMI at 0930BST with markets already pricing in a slip to
53.8 from 54 and then shortly afterwards PM May's speech at Conservative Party
conference. MNI PINCH see markets pricing a 82.5% chance of a 25bp rate hike in
Nov 2017 and following levels in BoE forward dated Sonia:-
* Nov-17 -0.2bp at 0.416%
* Dec-17 -0.3bp at 0.436%
* Feb-18 -0.3bp at 0.534%
* Mar-18 -0.7bp at 0.543%
* May-18 -0.6bp at 0.634%
* Jun-18 -0.7bp at 0.638%
* Aug-18 -0.9bp at 0.696%
* Sep-18 -0.9bp at 0.697%

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