PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB fixed rates nudged 1–2bp higher across the curve at the 12:27 reset; moves are modest and uniform.
PWLB rates at the 12:27 PM fix saw small increases of 1–2bp across all key maturities; little changed overall.
PWLB PM SNAPSHOT
- → 1y — 5.15% (+1bp)
- → 3y — 5.37% (+2bp)
- → 5y — 5.56% (+2bp)
- → 10y — 6.05% (+1bp)
- → 25y — 6.67% (+1bp)
- → 50y — 6.46% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Modest, uniform increases of 1–2bp across the curve, with the 3y and 5y tenors at the top end of the move.
CONTEXT
- → US data at 13:30 showed Personal Spending (+0.20% actual vs +0.10% forecast), Personal Income (+0.40% vs +0.20%), Durable Goods (+1.10% vs +0.50%), and Core PCE (+0.20% as forecast); GDP growth matched expectations at 1.50%.
- → UK CBI Distributive Trades survey disappointed at -48 (vs -24 forecast), indicating weaker retail sentiment.
- → News flow highlights continued focus on rising UK household energy bills and cost-of-living pressures.
LOOK AHEAD
- → No further GBP HIGH or MEDIUM releases scheduled for the rest of today.
- → Tomorrow 00:01: GBP Car Production YoY (Forecast: 1.0%; Previous: -1.20%)
A steady session for PWLB rates, with only minor upward movement; no immediate domestic data risks on the horizon.
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 energy bills moved as quietly as the PWLB curve today.