PWLB briefing
Morning Rate Update
PWLB rates are little changed at the AM reset, with moves of just ±3bp across the curve and no major data or news flow to drive direction.
NOTICE SUMMARY — PWLB rates are broadly steady after the 09:10 AM fix, with minor moves of ±3bp and no significant macro drivers in play.
PWLB rates: barely a ripple as markets pause for breath
PWLB Snapshot
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 5.18% | +1bp |
| 3y | 5.41% | unch |
| 5y | 5.61% | unch |
| 10y | 6.10% | -1bp |
| 25y | 6.72% | -3bp |
| 50y | 6.52% | -3bp |
Mild parallel shift lower in the long end; front-end steady to marginally higher.
Movements are negligible across the curve.
Context
- → No significant UK data or macro news — No high or medium impact UK releases so far today, and news flow is light for gilts and UK rates.
Calendar Events
Today's Releases
No data released so far today.
Remaining Today
- → 11:00: CBI Industrial Trends Orders — Forecast: -40 (Previous: -45)
Next 48 Hours
- → Fri 21 Aug 07:00: GBP Retail Sales MoM — Forecast: -0.50%
- → Fri 21 Aug 09:30: GBP S&P Global Services PMI Flash — Forecast: 51.8
- → Fri 21 Aug 09:30: GBP S&P Global Manufacturing PMI Flash — Forecast: 51.5
⚑ Treasurer's Note — PWLB rates are essentially unchanged this morning, with only minor moves of ±3bp across the curve and no meaningful macro catalysts in play. The market is marking time ahead of tomorrow's UK retail sales and PMI data, which may bring more direction at 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 watching the curve, even when it barely twitches.