PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged 1bp higher in the 12–50 year tenors at the PM reset; otherwise, little changed.
PWLB fixed rates at the 12:22 PM reset saw minor upward moves in the long end, with the rest of the curve essentially flat.
PWLB PM SNAPSHOT
- → 1y: 4.95% (unch)
- → 3y: 5.09% (unch)
- → 5y: 5.25% (unch)
- → 10y: 5.73% (unch)
- → 25y: 6.36% +1bp
- → 50y: 6.17% +1bp
WHAT'S NEW SINCE THIS MORNING
- → Long end firmer — 12y and longer tenors up +1bp; rest of the curve unchanged.
CONTEXT
- → No calendar releases — No UK or major international data released so far today.
- → Market tone — News flow dominated by global tech equity sell-off, Middle East energy supply updates, and UK heatwave impacts; no single clear driver for gilts or PWLB rates.
LOOK AHEAD
Diary is light into tomorrow.
A quiet PM reset to end the week, with only a 1bp nudge higher in the long end—no fireworks here.
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 Friday could be this uneventful.