PWLB briefing
Morning Rate Update
PWLB rates reset this morning with modest upward moves of 2–4bp across the curve, led by the long end.
NOTICE SUMMARY — AM reset: PWLB rates rose 2–4bp across all key maturities; no single driver evident in news or data.
PWLB edges up: a gentle nudge higher, no fireworks
PWLB SNAPSHOT
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 5.17% | +2bp |
| 3y | 5.38% | +2bp |
| 5y | 5.57% | +3bp |
| 10y | 6.07% | +4bp |
| 25y | 6.70% | +4bp |
| 50y | 6.50% | +3bp |
Parallel upward shift of 2–4bp across the curve; no major steepening or flattening.
WHAT MOVED
- → Broad upward move — All key maturities rose 2–4bp, with the 10y and longer tenors at the upper end of the range.
- → No significant curve reshaping — The move is parallel, with no pronounced steepening or flattening.
CONTEXT
- → No new UK data — No significant UK economic releases so far today.
- → News flow is light — No major macro or BoE developments in the headlines directly impacting gilts.
- → Calendar focus ahead — Market attention likely to turn to tomorrow's UK labour data and Wednesday's inflation figures.
CALENDAR EVENTS
TODAY'S RELEASES
No data released so far today.
REMAINING TODAY
Nothing further scheduled today.
NEXT 48 HOURS
- → Tue 2026-08-18 07:00: GBP Unemployment Rate — Forecast: 4.80%
- → Wed 2026-08-19 07:00: GBP Inflation Rate YoY — Forecast: 2.90%
⚑ Treasurer's Note — PWLB rates have nudged 2–4bp higher across all key maturities at the morning reset, with the long end leading. This reflects a modest parallel upward move rather than a directional shift or curve reshaping. With no major data or news driving the move, attention now turns to tomorrow’s UK labour figures and Wednesday’s inflation data, both of which could set the tone for the next reset.
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 after more resets than a council’s IT password.