PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged 1bp higher across most maturities at the 12:17 reset; overall, a quiet session.
PWLB fixed rates at the 12:17 PM setting saw a uniform +1bp move across the curve, with little change in broader direction.
PWLB PM SNAPSHOT
- → 1y: 5.10% (+1bp)
- → 3y: 5.28% (+1bp)
- → 5y: 5.43% (+1bp)
- → 10y: 5.90% (+1bp)
- → 25y: 6.51% (+1bp)
- → 50y: 6.29% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Curve-wide move: All reported maturities increased by +1bp at the PM reset.
CONTEXT
- → UK gilt auctions: 2030 Gilt auction cleared at 4.28%, 2039 at 5.08%—both in line with recent levels.
- → Market backdrop: News flow dominated by Middle East tensions and rising global yields, but no single clear driver in today's inputs.
LOOK AHEAD
- → Today 13:30: US GDP 2nd estimate, Core PCE, and Durable Goods Orders—all high-impact, may influence global rates.
- → Tomorrow 07:00: UK Nationwide House Prices (MoM/YoY), both medium impact (MoM fcst: +0.20%, YoY fcst: +2.90%).
- → Tomorrow 09:20: BoE Governor Bailey speech (medium impact).
A steady session for PWLB rates, with all eyes now on US data and tomorrow's UK housing figures 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 all rate days were this straightforward.