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

SONIA: The front end of the Sonia curve is steeper in early Tuesday morning

trade compared to Monday's close as markets continue to digest the implications

of the transitional agreement and look ahead to key data releases from the UK

this week and then BoE monetary policy decision on Thursday. UK Feb CPI is

released today at 0930GMT with consensus seeing it rise 0.6% on the month, but

fall to 2.8% y/y vs 3.0% y/y in Jan. MNI PINCH calculate 83.5% chance of a hike

in May-18 and a 57.5% chance of a second rate hike in November. Current levels

in short end Sonia:-

* 6-mth +0.8bp at 0.643%

* 9-mth +0.9bp at 0.7%

* 12-mth +1bp at 0.75%

* 15-mth +1bp at 0.794%

* 18-mth +1.1bp at 0.836%

* 21-mth +1.2bp at 0.874%

* 2-yr +1.2bp at 0.909%

* 3-yr +1.4bp at 1.016%