PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates saw minimal movement at the PM reset, with all key maturities shifting by just ±1bp or holding steady.
The 17 March PM PWLB reset landed with little changed: minor moves of ±1bp across the curve, no clear directional theme.
PWLB PM SNAPSHOT
- → 1y — 4.88% (+1bp)
- → 3y — 5.03% (-1bp)
- → 5y — 5.21% (-1bp)
- → 10y — 5.73% (unch)
- → 25y — 6.35% (unch)
- → 50y — 6.15% (-1bp)
WHAT'S NEW SINCE THIS MORNING
No meaningful change from the earlier notice.
CONTEXT
- → News flow is dominated by ongoing Middle East conflict, with oil and gas prices rising and continued market focus on energy supply risks.
- → No UK or US data releases so far today; markets are awaiting tomorrow’s Fed decision and Eurozone inflation print.
LOOK AHEAD
- → Tomorrow 10:00: EUR HICP Final (YY, MM) — Forecast: 1.9% YY, 0.7% MM
- → Tomorrow 18:00: USD Fed Funds Target Rate — Forecast: 3.6%
- → Thursday 07:00: GBP labour market data — Unemployment rate forecast: 5.3%
PWLB rates are holding steady as markets tread water ahead of tomorrow’s major central bank events and with geopolitical risk still front and centre.
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 rest of the world moved as quietly as the PWLB curve this afternoon.