PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB fixed rates nudged 1–2bp lower across the curve at the 12:31 reset; moves remain modest.
PWLB PM rates reset fractionally lower across all key maturities; little changed overall.
PWLB PM SNAPSHOT
- → 1y: 4.89% (-2bp)
- → 3y: 5.07% (-1bp)
- → 5y: 5.25% (-2bp)
- → 10y: 5.77% (-2bp)
- → 25y: 6.38% (-2bp)
- → 50y: 6.19% (-2bp)
WHAT'S NEW SINCE THIS MORNING
- → Curve broadly parallel — All key tenors down 1–2bp, with no material steepening or flattening.
CONTEXT
- → UK GDP flat in January — ONS data showed 0.0% monthly growth (vs forecast 0.2%), with services also stagnant.
- → Oil above $100, Middle East in focus — News flow dominated by the Iran conflict, energy price spikes, and concerns over UK and global growth.
LOOK AHEAD
- → Today 14:00 — USD JOLTS Job Openings (forecast: 6.7M); may influence global risk sentiment.
- → Monday 00:01 — GBP House Price Rightmove MM/YY (previous: 0.0%).
PWLB rates remain steady, with the market still digesting weak UK growth data and ongoing geopolitical risks.
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 — If only the weather were as stable as the curve.