PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — Minor downward shift at the front end, long end steady to slightly firmer; overall, little changed.
PWLB fixed rates at the 12:23 PM reset show a modest 1bp dip at the short end, unchanged belly and long rates, and a single 1bp uptick at 50 years—little changed overall.
PWLB PM SNAPSHOT
- → 1y: 5.15% (-1bp)
- → 3y: 5.36% (unch)
- → 5y: 5.54% (-1bp)
- → 10y: 6.03% (unch)
- → 25y: 6.66% (unch)
- → 50y: 6.47% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Front end: 1y and 5y both down by 1bp, reflecting a mild softening.
- → Belly and long end: 3y, 10y, and 25y unchanged; 50y up by 1bp.
CONTEXT
- → No major UK data released yet today — calendar is empty so far.
- → Global bond focus: US 30-year Treasury auction priced at the highest yield since 2001, with persistent inflation and deficit concerns noted in market commentary.
- → No single clear driver in today's inputs.
LOOK AHEAD
- → 13:30 (USD): US Retail Sales MoM (Forecast: 0.10%)
- → 15:00 (USD): Michigan Consumer Sentiment Prel (Forecast: 54.5)
- → Tuesday 07:00 (GBP): Unemployment Rate (Forecast: 4.90%)
A quiet PM reset—no fireworks, but worth watching US data and next week's UK labour numbers for any fresh direction.
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 resets were this uneventful.