Afternoon Rate Update

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

Headline

PWLB Rates Shift Slightly: A Gentle Afternoon Breeze

Notice Details

PWLB Interest Rate Notice Number 062/26, PM reset at 12:30 on 13 February 2026.

Maturity Rates

• 1y: 4.51% (+1bp)
• 3y: 4.68% (0bps)
• 5y: 4.91% (-1bp)
• 10y: 5.52% (0bps)
• 25y: 6.17% (-1bp)
• 50y: 5.99% (-1bp)

The 1-year rate has seen a slight uptick of 1 basis point, while other maturities remain stable or have dipped slightly. Overall, a calm afternoon in the treasury waters!

Afternoon Context

Since this morning, there have been no significant economic data releases to report. The market remains focused on the ongoing discussions regarding public finances, particularly the rising costs associated with special educational needs, which could influence future fiscal policy. Additionally, the Bank of England's consideration of external assistance for stress testing in private markets continues to be a topic of interest. Overall, gilt yields are likely to remain steady as the market digests these developments.

Calendar Events

REMAINING TODAY:

• No significant economic releases scheduled.

THIS WEEK AHEAD:

• Tuesday 07:00: Unemployment Rate - Forecast: 5.1%
• Tuesday 07:00: Average Earnings excl. Bonus - Forecast: 4.4%
• Tuesday 07:00: Claimant Count Change - Forecast: 22k

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 rates be low and your treasury operations smooth!