PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — Modest downward shift across the curve, with 2–4bp falls at all key maturities.
PWLB fixed rates at the 12:19 PM reset moved lower by 3–4bp across the curve; little changed in the broader context, but the direction is clear.
PWLB PM SNAPSHOT
- → 1y: 4.89% (-3bp)
- → 3y: 5.06% (-4bp)
- → 5y: 5.25% (-4bp)
- → 10y: 5.77% (-3bp)
- → 25y: 6.38% (-3bp)
- → 50y: 6.19% (-3bp)
WHAT'S NEW SINCE THIS MORNING
- → Curve-wide modest drop — All key tenors fell by 3–4bp at the PM reset.
- → Front and belly — 3y and 5y led the move with -4bp, while other points saw -3bp.
CONTEXT
- → No major UK data — Only Rightmove house price indices released today; no direct impact on gilts.
- → Geopolitical backdrop — Oil prices remain volatile amid the ongoing Iran conflict and Hormuz disruption, but markets have steadied somewhat after this morning’s spike.
- → Central bank focus — Market attention is on this week’s Fed and BoE decisions; expectations are for rates to remain on hold.
LOOK AHEAD
Diary is light into tomorrow.
A gentle downward move at the PM fix, with markets pausing ahead of a packed midweek calendar.
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 — Even on a quiet curve, the market never really sleeps.