PWLB briefing
Morning Rate Update
PWLB rates saw a modest parallel move higher at the AM reset, with most tenors up 1–2bp.
NOTICE SUMMARY — PWLB fixed rates rose 1–2bp across the curve at the 09:08 reset, with no single maturity standing out.
PWLB edges up: 1–2bp higher across the board, no fireworks
PWLB Snapshot
| Tenor | Rate | Chg |
|---|---|---|
| 1y | 5.29% | +2bp |
| 3y | 5.55% | +2bp |
| 5y | 5.73% | +2bp |
| 10y | 6.17% | +1bp |
| 25y | 6.76% | unch |
| 50y | 6.55% | unch |
Mild parallel upward shift; long-end unchanged.
What Moved
- → Front and belly — 1y to 10y tenors rose 1–2bp, with the largest move at the short end.
- → Long end — 25y and 50y maturities are unchanged at the reset.
Context
- → No UK data releases — No significant UK economic data has been published so far today.
- → Macro news flow — News remains focused on oil price volatility and global inflation concerns, but no direct UK gilt driver is evident this morning.
- → Conditions quiet — No material UK-specific headlines impacting rates at this reset.
Calendar Events
Today's Releases
No data released so far today.
Remaining Today
Nothing further scheduled today.
Next 48 Hours
- → Thu 2026-09-11 07:00: GBP GDP MoM — Forecast: 0.0%
- → Thu 2026-09-11 07:00: GBP GDP YoY — Forecast: 1.20%
- → Thu 2026-09-11 07:00: GBP Manufacturing Production YoY — Forecast: 2.0%
⚑ Treasurer's Note — PWLB rates are 1–2bp higher at the morning reset, with the move concentrated at the short and medium end. The long end remains unchanged, so borrowing costs for 25y and 50y maturities are steady for now. With no UK data or major news driving the move, this looks like a routine adjustment rather than a directional shift. Next reset will depend on live gilt moves, but for now, conditions remain calm.
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 when the only thing flatter than the curve is the coffee.