UK 20-year nominal par gilt yield
UK 20-year nominal par gilt yield stood at 5.64% on Oct 15, 2026, according to Bank of England. It is one of the indicators in the Gilt yields table (Value · Daily), with a complete series running from Jan 4, 2000 to Oct 15, 2026. The complete series with an interactive chart, free to download.
This indicator in the Gilt yields table
| Indicator | 15-10-2026 | 14-10-2026 | 13-10-2026 | 12-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | 02-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nominal par yields | |||||||||||
| 20-year nominal par yield | 5.64 | 5.72 | 5.73 | 5.73 | 5.75 | 5.79 | 5.76 | 5.7 | 5.74 | 5.69 | |
| 5-year nominal par yield | 4.92 | 4.97 | 4.98 | 4.97 | 4.97 | 4.99 | 4.94 | 4.9 | 4.93 | 4.89 |
Understanding UK 20-year nominal par gilt yield
Sovereign borrowing costs extending across a two-decade horizon for the United Kingdom are captured by this daily par yield metric, which represents the coupon rate required for a twenty-year bond to trade at face value. By reaching far out the curve, this series incorporates long-range structural projections regarding fiscal sustainability, demographic shifts, and terminal interest rate levels. Unlike intermediate benchmarks, this measure is highly sensitive to shifts in pension fund demand and long-duration liability-driven investment strategies.
When analysing these figures, observers should account for the heightened price volatility inherent in long-duration assets due to small shifts in discount rates. Comparisons against shorter maturities highlight the structural slope of the sovereign yield curve, reflecting market views on distant economic conditions. Seasonal tax and regulatory reporting deadlines can occasionally distort institutional demand for these ultra-long instruments.
Frequently asked questions
- Why do twenty-year yields react strongly to pension fund activity?
- Pension funds and insurers hold long-duration assets to match future liabilities, creating sustained demand that influences ultra-long pricing.
- How does this series differ from the ten-year equivalent?
- It captures a longer risk horizon, embedding expectations for structural economic shifts decades into the future rather than the medium term.
- Are these values adjusted for inflation?
- No, this is a nominal par yield; real returns require comparison with index-linked equivalents.