PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates edged down by 1–2bp across the curve at the 12:23 reset; moves were modest and broadly parallel.
PWLB fixed rates at the 12:23 PM reset are modestly lower across all key maturities; little changed overall.
PWLB PM SNAPSHOT
- → 1y: 5.13% (-1bp)
- → 3y: 5.32% (-1bp)
- → 5y: 5.50% (-1bp)
- → 10y: 5.98% (-2bp)
- → 25y: 6.61% (-2bp)
- → 50y: 6.41% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Parallel modest decline — All key tenors are down by 1–2bp, with the largest moves in the 7–30y sector; no part of the curve is unchanged.
CONTEXT
- → UK data quiet — The only notable UK release so far is the Lloyds House Price Index, showing flat prices month-on-month (0.0%) and a slight 0.10% annual rise.
- → No single clear driver — News flow is dominated by international themes and US data anticipation; nothing in today's UK or global headlines directly explains the small downward shift in rates.
LOOK AHEAD
- → Today 13:30 — US Non-Farm Payrolls (forecast: 80K) and Unemployment Rate (forecast: 4.20%) could influence global rates sentiment into the weekend.
- → Monday — No high-impact UK or US releases scheduled.
A quiet PM reset: rates are a touch lower, but the market is marking time ahead of US jobs data. Enjoy the calm while it lasts.
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 — The only thing flatter than today's rates is the Lloyds house price index.