Morning Rate Update

PWLB Rates: Notable Increases Across the Curve

PWLB Snapshot

• 1y: 4.83% (+7bp)
• 3y: 4.96% (+7bp)
• 5y: 5.13% (+5bp)
• 10y: 5.64% (+4bp)
• 25y: 6.26% (+4bp)
• 50y: 6.07% (+5bp)

What Moved

• Front end and belly (1–7y) saw notable increases of +5 to +7bp.
• Longer maturities (10y–50y) also rose, though slightly less, with +4 to +5bp moves.
• Gains are broadly distributed, with the largest moves at the short end.

Context

• No significant UK data releases so far today.
• News flow dominated by ongoing Middle East conflict, with oil prices remaining volatile and reports of a potential record release from IEA reserves.
• Market commentary highlights persistent geopolitical risk and energy market disruption, but no direct UK macroeconomic releases or Bank of England developments today.

Watchlist (Next 24–48 Hours)

• Tomorrow 00:01: GBP RICS House Price Balance (MED impact), forecast: -0.08
• Tomorrow 09:30: GBP BoE Governor Bailey Speech (MED impact)
• Day after tomorrow: GBP Manufacturing Production MoM (HIGH impact), forecast: 0.2%

PWLB rates have moved notably higher across all maturities, reflecting heightened market volatility amid ongoing geopolitical tensions and energy market uncertainty.

This commentary is provided for information only and is not financial advice. Please verify rates directly with PWLB or official sources before acting.