PWLB briefing
Morning Rate Update
PWLB rates are little changed after the 12:32 reset, with moves of just 1–2bp across the curve and no material shift in shape.
NOTICE SUMMARY — PWLB fixed rates saw minor moves (±1–2bp) at the PM reset; no significant data or news impact evident.
PWLB rates barely budge as markets digest oil shock — curve holds steady
PWLB Snapshot
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 4.88% | -2bp |
| 3y | 5.03% | -2bp |
| 5y | 5.21% | -1bp |
| 10y | 5.73% | unch |
| 25y | 6.34% | unch |
| 50y | 6.16% | +1bp |
Curve shows a near-parallel move with minor softening at the front end and a slight uptick at the long end.
Movements are negligible across the curve.
Context
- → RICS House Price Balance — Actual: -12, below forecast (-8) and previous (-10); no discernible impact on gilts.
- → BoE speeches (Bailey, White) — No new policy signals or market-moving comments reported.
- → News flow — Oil market disruption and inflation headlines dominate, but UK gilt yields remain steady post-reset.
Calendar Events
Today's Releases
- → RICS House Price Balance — Actual: -12, Forecast: -8, Previous: -10. Slightly weaker than expected; no impact on gilts.
- → BoE Gov Bailey Speech — No new market signals.
Remaining Today
Nothing further scheduled today.
Next 48 Hours
- → Fri 2026-03-13 07:00: Manufacturing Production MoM — Forecast: 0.2%
- → Fri 2026-03-13 07:00: Manufacturing Production YoY — Forecast: 1.0%
- → Fri 2026-03-13 07:00: GDP MoM — Forecast: 0.1%
⚑ Treasurer's Note — PWLB rates remain steady, with only minor moves at the latest reset. No significant data or news has shifted the curve today. If you are watching for volatility, the market is currently calm. Next key data arrives tomorrow morning.
This commentary is provided for information only and is not financial advice. Please verify rates directly with PWLB or official sources before acting.
Gilt Edge Advisor — still here after every "largest supply disruption in history".