Government bond auction · United Kingdom
United Kingdom 4-Year Treasury Gilt Auction
The United Kingdom 4-Year Treasury Gilt Auction is a sale of new government debt by the United Kingdom's treasury or debt agency to investors.
- Importance
- Low
- Released
- Monthly
- Currency
- GBP · pound sterling
- Central bank
- The Bank of England
Latest figures
The latest release, published on 18 March 2025, came in at 4.263%, down from 4.294% the time before.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 18 Mar 2025 | – | 4.263% | – | 4.294% |
| 19 Feb 2025 | – | 4.294% | – | 4.384% |
| 23 Jan 2025 | – | 4.384% | – | 4.499% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the United Kingdom 4-Year Treasury Gilt Auction?
The United Kingdom 4-Year Treasury Gilt Auction is a sale of new government debt by the United Kingdom's treasury or debt agency to investors.
What was the latest United Kingdom 4-Year Treasury Gilt Auction?
4.263%, published on 18 March 2025.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.