PWLB briefing
Morning Rate Update
PWLB rates are little changed at the AM reset, with minor downward moves of 1–2bp across the curve and no material shift in shape.
NOTICE SUMMARY — PWLB fixed rates reset marginally lower by 1–2bp across all maturities at the 09:03 AM fix; no major news or data driving the move.
PWLB nudges lower: curve drifts, but the market keeps its powder dry
PWLB Snapshot
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 5.13% | -1bp |
| 3y | 5.32% | -2bp |
| 5y | 5.48% | -1bp |
| 10y | 5.94% | -1bp |
| 25y | 6.54% | -1bp |
| 50y | 6.33% | -1bp |
Mild parallel shift lower; no material steepening or flattening.
What Moved
Movements are negligible across the curve.
Context
- → No significant UK data released so far today — the calendar is quiet ahead of US inflation figures this afternoon.
- → News flow is light for gilts — global headlines focus on US-Iran tensions and tech sector volatility, but no direct impact on UK rates is evident this morning.
Calendar Events
Today's Releases
No data released so far today.
Remaining Today
- → 13:30 USD Core Inflation Rate MoM: Forecast 0.30% (Prev 0.40%)
- → 13:30 USD Inflation Rate MoM: Forecast 0.50% (Prev 0.60%)
- → 13:30 USD Core Inflation Rate YoY: Forecast 2.90% (Prev 2.80%)
- → 13:30 USD Inflation Rate YoY: Forecast 4.20% (Prev 3.80%)
Next 48 Hours
- → Thu 11 Jun 13:15: ECB Interest Rate Decision — Forecast: 2.40%
- → Fri 12 Jun 07:00: UK GDP MoM — Forecast: -0.10%
⚑ Treasurer's Note — PWLB rates have edged down by 1–2bp at the morning reset, with no meaningful shift in curve shape or direction. This leaves the cost of new borrowing almost unchanged from yesterday's close. With no UK data out and only US inflation due this afternoon, the market is in a holding pattern until the next reset.
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 — still here after all the curveballs, humps, and flat spots.