PWLB briefing
Morning Rate Update
PWLB rates are little changed after the 09:15 AM reset, with all key maturities down just 1–2bp and no material curve movement.
NOTICE SUMMARY — PWLB fixed rates have edged down by 1–2bp across the curve at the AM setting; no significant drivers evident.
PWLB curve barely budges as markets pause for breath
PWLB Snapshot
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 5.12% | -1bp |
| 3y | 5.31% | -1bp |
| 5y | 5.49% | -1bp |
| 10y | 5.97% | -1bp |
| 25y | 6.60% | -1bp |
| 50y | 6.40% | -1bp |
Parallel move lower by 1–2bp across the curve; no material steepening or flattening.
Movements are negligible across the curve.
Context
- → No significant UK data or macro news — No economic releases or major UK market news so far today.
- → Global news flow is light — No direct drivers for gilts or BoE policy evident in overnight headlines.
Calendar Events
Today's Releases
No data released so far today.
Remaining Today
Nothing further scheduled today.
Next 48 Hours
- → Wed 2026-08-12 13:30: USD Inflation Rate YoY — Forecast: 3.40%
- → Thu 2026-08-13 07:00: GBP GDP Growth Rate YoY Prel — Forecast: 1.60%
- → Thu 2026-08-13 07:00: GBP GDP Growth Rate QoQ Prel — Forecast: 0.40%
⚑ Treasurer's Note — PWLB rates have dipped by 1–2bp across all key maturities at the AM reset, with no major news or data driving the move. The curve is essentially unchanged, so there is no urgency for action based on this morning's levels. Next scheduled data with potential to move rates is the US inflation print on Wednesday and UK GDP on Thursday.
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 market decides not to bother getting out of bed.