PWLB briefing
Morning Rate Update
PWLB rates are little changed at the AM reset, with moves of just ±2bp across the curve and no material shift in shape.
NOTICE SUMMARY — PWLB fixed rates at the 09:06 AM reset are broadly steady, with changes of only ±2bp across all maturities and no significant curve movement.
PWLB rates: barely a ripple as the market catches its breath
PWLB SNAPSHOT
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 4.97% | -1bp |
| 3y | 5.16% | +1bp |
| 5y | 5.33% | +1bp |
| 10y | 5.84% | +2bp |
| 25y | 6.47% | +2bp |
| 50y | 6.29% | +2bp |
A near-parallel shift with all moves within ±2bp; the curve remains stable.
Movements are negligible across the curve.
CONTEXT
- → No significant UK data released so far — Only the BoE Credit Conditions Survey (low impact) has been published this morning.
- → News flow is light — No material macro or market news affecting gilts or the BoE this morning.
CALENDAR EVENTS
Today's releases
No data released so far today.
Remaining today
- → 13:30: USD Non Farm Payrolls — Forecast: 110K (Previous: 172K)
- → 13:30: USD Unemployment Rate — Forecast: 4.30% (Previous: 4.30%)
Next 48 hours
- → Fri 2026-07-03 16:00: GBP BoE Gov Bailey Speech — (No forecast)
- → Mon 2026-07-06 15:00: USD ISM Services PMI — Forecast: 54
⚑ Treasurer's Note — The AM PWLB reset shows only fractional movement, with all key tenors within ±2bp of yesterday. No curve shape change or material volatility is evident this morning. Unless the US payrolls release surprises this afternoon, the next reset is likely to remain anchored.
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 when the only thing moving is the clock.