PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged 1bp higher across several maturities at the PM reset, but overall moves remain modest.
PWLB PM rates set at 12:22 show a mild upward drift, with most key tenors up +1bp and little changed overall.
PWLB PM SNAPSHOT
- → 1y: 5.00% (+1bp)
- → 3y: 5.13% (unch)
- → 5y: 5.29% (+1bp)
- → 10y: 5.83% (+1bp)
- → 25y: 6.47% (unch)
- → 50y: 6.27% (unch)
WHAT'S NEW SINCE THIS MORNING
- → Mild upward bias — +1bp moves at the short end (1y), belly (5y, 10y), and 12–15y, with the long end (25y, 50y) unchanged.
CONTEXT
- → Geopolitical risk — News flow dominated by renewed Middle East tensions, with oil prices jumping after the US seized an Iranian ship and the Strait of Hormuz closed again.
- → Market reaction — Global bond yields and the dollar have firmed amid risk-off sentiment; UK data releases have been low-impact so far today.
LOOK AHEAD
- → Tuesday 07:00 — UK labour market: Unemployment Rate (forecast 5.20%), Employment Change, and Average Earnings (MEDIUM impact).
- → Tuesday 13:30 — US Retail Sales (HIGH impact, forecast 1.40%) may influence global rates if volatility persists.
Rates are holding steady with a slight upward tilt; tomorrow's UK jobs data and ongoing geopolitical headlines remain in focus.
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 oil prices were as predictable as the council tax precept.