PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged up by 1bp across the curve at the 12:22 reset; overall, little changed.
PWLB fixed rates at the 12:22 PM setting saw a uniform +1bp move across all key maturities; otherwise, little changed from this morning.
PWLB PM SNAPSHOT
- → 1y — 5.19% (+1bp)
- → 3y — 5.42% (+1bp)
- → 5y — 5.62% (+1bp)
- → 10y — 6.11% (+1bp)
- → 25y — 6.73% (+1bp)
- → 50y — 6.53% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Curve move — All key maturities rose by +1bp; no deviation in shape, just a parallel shift higher.
CONTEXT
- → UK data — CBI Industrial Trends Orders improved to -25 (vs forecast -40), but remains negative; limited immediate impact.
- → Global backdrop — News flow dominated by US Treasury buyback plans and ongoing Middle East tensions, but no single clear driver for today's modest UK move.
LOOK AHEAD
- → Tomorrow 00:01 — GfK Consumer Confidence (forecast: -18)
- → Tomorrow 07:00 — Retail Sales MoM (forecast: -0.50%)
- → Tomorrow 09:30 — S&P Global Services/Manufacturing PMI Flash (forecasts: 51.8/51.5)
A quiet PM reset—rates a touch firmer, but no drama; attention now shifts to tomorrow's UK confidence and retail data.
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 afternoons were this straightforward.