PWLB briefing
Afternoon Rate Update
PM NOTICE SUMMARY — PWLB fixed rates edged 1bp higher across most maturities at the 12:04 reset; long end unchanged or marginally lower.
PWLB rates at the 12:04 PM fix are up 1bp across the short and medium tenors, with little change at the long end.
PWLB PM SNAPSHOT
- → 1y — 5.48% (+1bp)
- → 3y — 5.81% (+1bp)
- → 5y — 5.98% (+1bp)
- → 10y — 6.35% (+1bp)
- → 25y — 6.82% (+1bp)
- → 50y — 6.52% (-1bp)
WHAT'S NEW SINCE THIS MORNING
- → Short and medium maturities — 1bp higher across 1y to 12y.
- → Long end — 50y down 1bp; 15y, 20y, 30y, and 40y unchanged.
CONTEXT
- → UK GfK Consumer Confidence — Actual: -13 (forecast: -16, previous: -14); a modestly better reading, but not a major market mover.
- → Global bond yields — News flow highlights continued volatility in global bond markets, with oil prices and US policy uncertainty as recurring themes.
- → No single clear driver — No single clear driver in today's inputs; moves remain modest.
LOOK AHEAD
- → Today 13:30 — USD Durable Goods Orders MoM (forecast: -0.40%); may influence global risk sentiment.
- → Monday — No high-impact GBP releases scheduled.
A quiet PM reset: rates nudged up by 1bp in the front and belly, with the long end flat to fractionally lower. Enjoy the weekend—Monday’s calendar looks sparse.
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 you want drama, try the FX desk. Gilts just keep plodding on.