Afternoon Rate Update

PWLB fixed rates at the 12:12 PM reset edged up by 1–3bp across all key maturities; no sharp moves, but the direction is clear.

PWLB PM SNAPSHOT

• → 1y: 4.99% (unch)
• → 3y: 5.16% (unch)
• → 5y: 5.33% (+1bp)
• → 10y: 5.83% (+2bp)
• → 25y: 6.45% (+2bp)
• → 50y: 6.26% (+3bp)

WHAT'S NEW SINCE THIS MORNING

• → Mild upward shift — 5y, 10y, 25y, and 50y rates all increased by +1 to +3bp; front end (1y, 3y) unchanged.
• → Long end leads — 50y saw the largest move at +3bp, with the rest of the curve following in smaller steps.

CONTEXT

• → Market relief on US-Iran peace deal — News flow dominated by a US-Iran agreement, which has driven a rally in global equities and bonds, and sent oil prices sharply lower.
• → No UK data released today — Economic calendar is empty for UK releases; no new domestic figures to influence gilts or PWLB levels.
• → BoE and Fed decisions ahead — Market attention is already turning to this week’s Bank of England and US Federal Reserve rate decisions.

LOOK AHEAD

• → Tomorrow 10:00: GBP Treasury Gilt 2036 Auction (LOW) — Previous: 5.03%
• → Wednesday 07:00: GBP Inflation Rate YoY (HIGH) — Forecast: 3.0% (Prev: 2.80%)
• → Thursday 12:00: GBP BoE Interest Rate Decision (HIGH) — Forecast: 3.75% (Prev: 3.75%)

A calm but firmer PM reset, with the market’s gaze already shifting to midweek inflation and central bank decisions.

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 Mondays were this straightforward.