PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — Gilt yields eased slightly into the PM reset, with PWLB rates down 1–2bp across most maturities.
PWLB fixed rates at the 12:30 reset are modestly lower across the curve; little changed in the front end, with a gentle downward shift further out.
PWLB PM SNAPSHOT
- → 1y — 5.03% (unch)
- → 3y — 5.17% (unch)
- → 5y — 5.32% (-1bp)
- → 10y — 5.85% (-1bp)
- → 25y — 6.49% (-2bp)
- → 50y — 6.28% (-2bp)
WHAT'S NEW SINCE THIS MORNING
- → Mild downward shift — 1y and 3y unchanged; 5y and 10y down -1bp; 25y and 50y down -2bp.
- → Curve shape — Slightly more easing in the long end versus the front.
CONTEXT
- → Market tone — News flow highlights ongoing Middle East ceasefire hopes and easing oil prices, with risk sentiment modestly firmer.
- → Economic data — No major UK releases so far today; US President Trump’s overnight comments on Iran truce have steadied global markets.
LOOK AHEAD
- → Today 13:00 — BoE MPC Member Pill speaks (MEDIUM impact).
- → Tuesday 07:00 — UK labour market data due (employment, earnings, unemployment rate).
A gentle end to the week for PWLB rates, with the market awaiting next week’s UK data for fresh direction.
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 every Friday could be this uneventful.