Afternoon Rate Update

Hello again! Here’s your afternoon update on PWLB rates and market conditions.

Headline

PWLB Rates Hold Steady: A Calm Afternoon in the Treasury World

Notice Details

PWLB Interest Rate Notice Number 486/25
Rates reset at 12:30 PM on December 15, 2025.

Maturity Rates

• 1y: 4.62% (0bps)
• 2y: 4.68% (0bps)
• 3y: 4.76% (0bps)
• 5y: 4.97% (0bps)
• 10y: 5.54% (0bps)
• 25y: 6.17% (-1bps)
• 30y: 6.19% (-1bps)
• 40y: 6.12% (-1bps)
• 50y: 5.94% (-1bps)

Rates have remained largely unchanged, with only minor decreases in the 25-year, 30-year, 40-year, and 50-year maturities, indicating a quiet afternoon in the treasury market.

Afternoon Context

Since this morning, there have been no significant economic data releases, and the market remains stable with no notable movements in PWLB rates. The Bank of England's anticipated rate cut to 3.75% continues to loom, but no new developments have emerged to shift market sentiment. Overall, gilt yields are likely to remain steady as investors await further economic indicators.

Calendar Events

REMAINING TODAY:

• No further significant economic releases today.

THIS WEEK AHEAD:

• Tomorrow, December 16: Unemployment Rate - 07:00 - Forecast: 5.1%
• Tomorrow, December 16: Average Earnings excl. Bonus (3Mo/Yr) - 07:00 - Forecast: 4.5%
• Tomorrow, December 16: Average Earnings incl. Bonus (3Mo/Yr) - 07:00 - Forecast: 4.5%
• Tomorrow, December 16: S&P Global Services PMI Flash - 09:30 - Forecast: 52
• Tomorrow, December 16: Treasury Gilt 2031 Auction - 10:00 - Previous: 4.09%

This commentary is provided for informational purposes only and should not be construed as financial advice. Market conditions can change rapidly, and you should always verify current rates directly with the PWLB or through official channels before making borrowing decisions. Past performance is not indicative of future results.

Until next time, may your treasury operations be as predictable as a well-timed bus schedule!