Resource for buying gilts: Table of gilts with yield to redemption

Saganaki

Hiya - looking to buy some gilts to hold to maturity as part of the cash portion of my SIPP  - does anyone know of a place where there are up to date tables showing ggilt issues with yield to redemption?

Monevator once  showed a few [monevator.com/corporate-bond-prices-yields/] but it's an old post and all the sources are dead. (M&G finally killed bond vilgilanties!)

Obviously I could spreadsheet up or use an online calculator but the less data entry the better with my tendency to transpose digits!

Closest I've come so far was H&L  [hl.co.uk/shares/corporate-bonds-gilts/bond-prices/uk-gilts] but they don't show YTM.

LSE doesn't show YTM for most issues (not sure why? Scared of committing to a reinvstment rate? - eg [londonstockexchange.com/stock/TR26/united-kingdom/company-page]

GeoffTF

You can set up a free account here:

https://reports.tradeweb.com/account/login/

Johnjdc

Marketwatch quotes the "going rate" which will usually be close to the YTM though obviously you'll lose a bit on spreads and trading fees.

Excel will calculate the Yield to Maturity for you if you know the purchase price and the coupon.

You can either use the =YIELDMAT function, or you can set something up yourself that gets you ballpark right and is easier to adjust visually.

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If you're in an account with no tax it's relatively easy. Something like this (apologies, typing excel into a text field I may make errors).

A1 -- Today's Date, you can get with =TODAY()

A2 - Maturity Date

A3 - Coupon

A4 - Price

A5 - Days to maturity which you get with =A2-A1

A6 - Payment to Maturity which you get with =(100-A4)+(A3*A5/365)

A7 - Percentage Profit to Maturity which is just A6/A4

Yield to Maturity is then give or take =(A7/A5)*365

Caveats

1) I am not sure exactly if you need to account for coupon payment schedule - I think normally this rolls up into the price when you actually come to pay.

2) This calculation can go wrong because some numbers are whole numbers and some are percentages. Test it by changing the numbers to unrealistic ones (e.g. coupon to 10%) and seeing if it changes the yield massively. If it doesn't, then it's because it's treating 10% as "0.1" rather than as "10".

Saganaki

Thanks both.

@GeoffTF is the yield figure shown yield to maturity? Couldn't find any information on which yield it actually was. They look too high to be YTM maybe?

@Johnjdc Yeah, excel can be a bit fraught for YTM! Market prices reflect ex-!!!!!! coupon. My implementation of your formula for some reason it needs multiplication by 100 to get a % yield

Saganaki

Lol, post was sensored for using standard latin versions of cumululative

GeoffTF

Saganaki said:
@GeoffTF is the yield figure shown yield to maturity? Couldn't find any information on which yield it actually was. They look too high to be YTM maybe?

Tradeweb's the official data source used by the Bank of England. The yield figures are the redemption yields (i.e. YTM) for conventional gilts, and the real redemption yield for index linked gilts (you get indexation on top).

coastline

From the HL list..

Gilts | Hargreaves Lansdown (hl.co.uk)

Treasury 5% 07/03/2025 Share Price (TR25) Gilt | TR25 (hl.co.uk)

YTR is there at 4.06% . How accurate ??  

5% Treasury Stock 2025 : The latest Government Bond price - Sharecast.com

Bonds | Investing | Digital Look - Sharecast.com