PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates edged down by 1–2bp across the curve at the 12:30 reset; moves remain modest.
PWLB fixed rates at the 12:30 PM reset are 1–2bp lower across all key maturities; little changed overall.
PWLB PM SNAPSHOT
- → 1y — 5.21% (-2bp)
- → 3y — 5.42% (-2bp)
- → 5y — 5.60% (-2bp)
- → 10y — 6.07% (-2bp)
- → 25y — 6.68% (-1bp)
- → 50y — 6.47% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Front end and belly (1–10y) down 2bp; long end (25–50y) down 1bp.
CONTEXT
- → Bank of England held Bank Rate at 3.75% (6–3 vote); no change from forecast, with no votes for a cut.
- → UK car production fell -1.2% YoY (vs forecast -0.5%), a minor miss but not a major market mover.
- → No single clear driver in today's inputs; moves are minor and broad-based.
LOOK AHEAD
- → 14:15 — BoE Governor Bailey speech (MEDIUM)
- → Tomorrow 07:00 — Nationwide House Price Index (YoY: 1.9% f/c, MoM: 0.1% f/c)
A quiet PM reset—rates a touch lower, no major catalyst. Usual pattern: eyes on Bailey’s remarks for any late tone shift.
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 market days were this straightforward.