PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates saw minimal movement at the 12:30 reset, with only minor changes at the short and long ends.
The 15 April PM PWLB reset saw little changed overall, with 1–7 year rates up by +1bp, the 50-year down by -1bp, and all other key maturities unchanged.
PWLB PM SNAPSHOT
- → 1y: 5.05% (+1bp)
- → 3y: 5.17% (+1bp)
- → 5y: 5.30% (unch)
- → 10y: 5.79% (unch)
- → 25y: 6.40% (unch)
- → 50y: 6.18% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Front end — 1y and 3y both up +1bp; 5y unchanged.
- → Long end — 50y down -1bp, 25y unchanged.
- → Curve — Moves remain within a tight ±1bp range across the curve.
CONTEXT
- → No economic data released today — No UK data prints so far; calendar is empty for the remainder of the day.
- → News flow — Market focus remains on Middle East developments and potential US-Iran peace talks, with some stabilisation in global energy prices reported.
LOOK AHEAD
- → Tomorrow 06:00 — UK GDP Estimate MM (forecast: 0.1%), GDP Est 3M/3M (forecast: 0.2%), and GDP Estimate YY (forecast: 0.6%) all due before market open.
A quiet session for PWLB, with the curve holding steady ahead of tomorrow’s UK GDP figures.
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 the gilts need a breather sometimes.