PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — Minor downward shift at the long end; otherwise, little changed across the curve.
PWLB fixed rates at the 12:16 PM reset show a mild softening in longer maturities, with the rest of the curve broadly steady.
PWLB PM SNAPSHOT
- → 1y — 5.28% (unch)
- → 3y — 5.52% (unch)
- → 5y — 5.68% (-1bp)
- → 10y — 6.17% (-1bp)
- → 25y — 6.76% (-1bp)
- → 50y — 6.54% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Long end softens — 5y, 10y, 25y, and 50y all down (-1bp); 1y and 3y unchanged.
CONTEXT
- → No major UK data released since the AM fix — Only Bank of England speeches (Greene, Mann) have occurred, with no market-moving headlines.
- → Market tone — News flow highlights ongoing global bond volatility, but UK-specific drivers are muted this session.
LOOK AHEAD
- → Tomorrow 07:00 — UK Unemployment Rate (HIGH), forecast 4.90%; Average Earnings incl. Bonus (MEDIUM), forecast 3.80%; Employment Change (MEDIUM), forecast 15K.
- → Tomorrow 10:10 — BoE Breeden Speech (MEDIUM).
A quiet PM reset, with only a slight easing at the long end—attention now turns to tomorrow's UK labour market data for the next steer.
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 Monday could be this straightforward.