Afternoon Rate Update

Hello! Here’s your afternoon update on the latest PWLB rates and market movements.

Headline

PWLB Rates: A Quiet Afternoon with Minimal Movement

Notice Details

PWLB Interest Rate Notice Number 016/26, reset at 12:30 PM on 13 January 2026.

Maturity Rates

• 1y: 4.57% (0)
• 3y: 4.70% (0)
• 5y: 4.90% (+1)
• 10y: 5.45% (0)
• 25y: 6.07% (+1)
• 50y: 5.84% (0)

Notably, the 5-year and 25-year rates have increased by 1 basis point, while the rest remain unchanged. It seems the rates are taking a leisurely stroll this afternoon.

Afternoon Context

Since this morning, the only significant economic data release was the GBP Index-linked Treasury Gilt 2035 Auction, which posted an actual yield of 0.01%, down from the previous 1.57%. This indicates a notable drop in demand for long-term index-linked gilts. In the news, Jamie Dimon of JPMorgan cautioned that markets may be underestimating global risks, which could influence investor sentiment. Overall, the PWLB rates reflect a stable afternoon with little market reaction, suggesting that gilt yields may remain steady in the near term.

Calendar Events

REMAINING TODAY:

• No further significant economic releases today.

TOMORROW:

• Wednesday 14th: GBP BoE Taylor Speech - 08:00 - Low impact
• Wednesday 14th: GBP Treasury Gilt 2035 Auction - 10:00 - Low impact
• Wednesday 14th: GBP BoE Ramsden Speech - 15:30 - Low impact

THIS WEEK AHEAD:

• Thursday 19th: GBP RICS House Price Balance - Forecast: -0.16
• Thursday 19th: GBP Balance of Trade - Forecast: -3.50B
• Thursday 19th: GBP GDP MoM - Forecast: -0.1%
• Thursday 19th: GBP GDP 3-Month Avg - Forecast: -0.1%
• Thursday 19th: GBP GDP YoY - Forecast: 0.8%
• Thursday 19th: GBP Industrial Production MoM - Forecast: -0.00
• Thursday 19th: GBP Goods Trade Balance - Forecast: -19.80B

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 steady as a well-tuned clock!