PWLB briefing
End of Day Wrap-Up
Gilt yields were broadly unchanged across the curve today, resulting in modest upward moves in PWLB rates of 1–2bp at most maturities.
GILT MOVE SUMMARY
| Tenor | Yield | Change | Comment |
|---|---|---|---|
| 2y | 4.338% | unch | Short end steady |
| 10y | 5.027% | unch | No move in the belly |
| 30y | 5.757% | -1bp | Marginal long-end outperformance |
PWLB CLOSE SNAPSHOT
| Tenor | Rate | Change |
|---|---|---|
| 1y | 5.18% | +1bp |
| 5y | 5.60% | +2bp |
| 10y | 6.09% | +2bp |
| 25y | 6.71% | +2bp |
| 50y | 6.50% | +2bp |
WHAT DROVE TODAY
There were no significant UK data releases or domestic news directly impacting gilts today. The gilt market was largely static, with only a marginal move at the long end. Market commentary focused on anticipation ahead of tomorrow’s high-profile speech by US Fed Chair Warsh at Jackson Hole, but this had little observable impact on UK yields. The only notable UK data was car production (-11% YoY vs forecast +1.0%), but this is a low-impact release and did not move rates.
WHAT THIS MEANS
- → PWLB rates — ended the day 1–2bp higher across most maturities.
- → Borrowing costs — slightly higher than yesterday, but the overall move was minimal.
- → Market tone — remains stable ahead of key US and European events tomorrow.
NEXT ON THE DIARY
- → Fri 07:00 — GBP Nationwide Housing Prices MoM (Forecast: 0.10%)
- → Fri 07:00 — GBP Nationwide Housing Prices YoY (Forecast: 1.90%)
PWLB rates finished the day marginally higher, with markets awaiting tomorrow’s key data and central bank commentary.
This commentary is for information only and does not constitute financial advice. Always verify rates directly with PWLB or official sources before making borrowing decisions.