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Knowledge guide to gilt prices

The definition of a gilt is 'a UK Government liability in sterling, issued by HM Treasury and listed on the London Stock Exchange' as stated on the UK Debt Management Office website

There are two main types of Gilts, conventional gilts and index-linked gilts. Information on the differences between these two types of Gilts can be found on the UK Debt Management Office website.

Sources for Gilt prices

Financial Times

The Financial Times publishes gilt prices in the 'Companies and Markets' section of the paper within a table headed 'UK GILTS - cash market'. At the time of writing (October 2006) the full list appears in the Saturday edition and for the rest of the week a shorter list is published. The figures published in the paper are sourced from the Debt Management Office.

The Financial Times website provides an online archive of the daily tables for UK Gilts Prices, the FTSE UK Gilts Indices, Gilt Strips and Gilt Spreads for the last three years. The tables can be accessed by selecting a year, month and then by clicking on the appropriate day on the calendar:

Debt Management Office

The Debt Management Office provides the Latest available closing prices and yields and a database of historical Gilt Reference Prices covering the period from 12th July 1996 to the present date. The database of historical prices can be used to generate a list of reference prices by business date and includes the ISIN Code, redemption date, clean price, dirty price, accrued interest, yield and modified duration.

The Debt Management Office website states that 'For a given gilt the reference price is not intended to give a market price at which it could be traded, but provides an indicative price.'

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