PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged 1bp higher across most maturities at the 12:21 reset; moves remain very modest.
PWLB fixed rates at the 12:21 PM setting saw a uniform +1bp increase across nearly all maturities, with little overall change in market direction.
PWLB PM SNAPSHOT
- → 1y: 5.18% (+1bp)
- → 3y: 5.39% (unch)
- → 5y: 5.56% (+1bp)
- → 10y: 6.02% (+1bp)
- → 25y: 6.62% (+1bp)
- → 50y: 6.43% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Modest +1bp upward move across the curve, with the 3y unchanged.
- → No outsized moves; the curve remains broadly stable.
CONTEXT
- → Oil prices have risen above $90/barrel amid escalating US-Iran tensions, with multiple news sources highlighting renewed inflation concerns and higher fuel costs.
- → No UK economic data released today; markets are awaiting tomorrow's UK labour market figures and Wednesday's inflation print.
- → News flow is dominated by geopolitical risk and energy price volatility, but no single clear driver for today's mild rate move.
LOOK AHEAD
- → Tomorrow 07:00: UK Unemployment Rate (HIGH) — Forecast: 4.90%
- → Tomorrow 07:00: UK Employment Change (MEDIUM) — Forecast: 70K
- → Wednesday 07:00: UK Inflation Rate YoY (HIGH) — Forecast: 2.70%
A steady session for PWLB, with only a minor upward nudge and no material data to shift the dial ahead of tomorrow's labour market release.
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 Monday were this undramatic.