PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates nudged 1bp higher across most maturities at the 12:14 reset; overall, little changed.
PWLB fixed rates set at 12:14 show a very modest upward drift, with most key tenors up +1bp and others unchanged.
PWLB PM SNAPSHOT
- → 1y — 5.44% (unch)
- → 3y — 5.73% (+1bp)
- → 5y — 5.89% (+1bp)
- → 10y — 6.23% (unch)
- → 25y — 6.71% (+1bp)
- → 50y — 6.42% (+1bp)
WHAT'S NEW SINCE THIS MORNING
- → Minor upward shift (+1bp) seen in 2y, 3y, 5y, 15y, 20y, 25y, 40y, and 50y tenors; 1y, 7y, 10y, 12y, and 30y unchanged.
CONTEXT
- → UK retail sales for August surprised to the upside: MoM +0.50% (forecast -0.20%), YoY +2.40% (forecast 1.90%), with ex-fuel measures also beating expectations.
- → News coverage highlights continued resilience in UK consumer spending and a lack of major new macro shocks.
LOOK AHEAD
Diary is light into tomorrow.
A steady end to the week, with only minor tweaks at the PM reset and no immediate 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 — Even the gilts took a breather for Friday lunch.