PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates at the 12:12 reset show minimal movement, with only a 1bp shift at the 3y and 30y points; the curve is essentially unchanged.
PWLB fixed rates at the 12:12 PM set are steady across most maturities; little changed from earlier today.
PWLB PM SNAPSHOT
- → 1y — 5.16% (unch)
- → 3y — 5.38% (-1bp)
- → 5y — 5.56% (unch)
- → 10y — 6.03% (unch)
- → 25y — 6.63% (unch)
- → 50y — 6.44% (unch)
WHAT'S NEW SINCE THIS MORNING
No meaningful change from the earlier notice.
CONTEXT
- → Chancellor Reeves Mansion House Speech — Delivered earlier today; no immediate market impact reported.
- → News flow — Headlines dominated by Middle East tensions and oil price moves, but no direct evidence of impact on gilts or PWLB rates in today's data.
LOOK AHEAD
- → Today 13:30 — USD PPI MoM (HIGH): Forecast 0.0%.
- → Today 15:00 — USD Fed Chair Warsh Testimony (HIGH).
- → Tomorrow 07:00 — GBP GDP MoM (HIGH): Forecast 0.10% (prev -0.10%).
- → Tomorrow 07:00 — GBP Manufacturing Production MoM (MEDIUM): Forecast -0.20% (prev 0.40%).
A very quiet PM reset—rates are holding steady, with no fresh direction from data or news so far.
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 — Even the curve needs a breather now and then.