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

SONIA
SONIA: The front end of the Sonia curve is little changed in early Thursday
morning trade compared to Wednesday's close as markets digest PM Theresa May's
disastrous speech yesterday and the likely impact on her political career, with
the Telegraph already saying that 30 MPs are plotting to remove her from office.
Looking ahead, there is little data from the UK, so attention likely on US data
this afternoon and then comments from BoE's Ian McCafferty this evening. MNI
PINCH see markets pricing a 84.5% chance of a 25bp rate hike in Nov 2017 and
following levels in BoE forward dated Sonia:-
* Nov-17 +0.1bp at 0.42%
* Dec-17 -0.1bp at 0.441%
* Feb-18 -0.1bp at 0.537%
* Mar-18 -0.2bp at 0.545%
* May-18 -0.1bp at 0.639%
* Jun-18 -0.1bp at 0.646%
* Aug-18 -0.1bp at 0.706%
* Sep-18 unch at 0.706%

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