PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB rates reset lower this afternoon, with modest declines of 2–4bp across the curve.
The 12:25 PWLB PM reset shows a uniform move lower, with 2–4bp declines across all key maturities; little changed in market tone, but a clear directional shift down from earlier levels.
PWLB PM SNAPSHOT
- → 1y: 5.42% (-3bp)
- → 3y: 5.70% (-4bp)
- → 5y: 5.85% (-4bp)
- → 10y: 6.20% (-3bp)
- → 25y: 6.67% (-2bp)
- → 50y: 6.35% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Front end and belly: 1–5y tenors down 3–4bp, with the largest moves in the 3y and 5y.
- → Long end: 25y and 50y both lower, but with smaller moves (-2bp and -1bp respectively).
CONTEXT
- → Government bond rebound: News reports highlight a rebound in government bonds as oil prices fell back, with Brent crude dropping to just above $100.
- → No major UK data releases: No high-impact UK economic data released so far today; news flow is dominated by global energy and fiscal headlines.
LOOK AHEAD
Diary is light into tomorrow.
A modest downward reset for PWLB rates this afternoon, with the curve shifting lower but no single dominant driver in the news flow.
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 all Mondays were this straightforward.