UK Government Bond Yields (GBP)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/gbp-government
UK Government Bond Yields (GBP) as of 2026-07-27: 10Y at 5.08%, fitted curve 6M–50Y (4.12%–5.73%), 73 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 6M | 4.12% | — |
| 12M | 4.18% | 4.24% |
| 18M | 4.26% | 4.40% |
| 2Y | 4.31% | 4.49% |
| 3Y | 4.39% | 4.56% |
| 4Y | 4.47% | 4.71% |
| 5Y | 4.56% | 4.91% |
| 6Y | 4.66% | 5.14% |
| 7Y | 4.76% | 5.38% |
| 8Y | 4.87% | 5.61% |
| 9Y | 4.97% | 5.83% |
| 10Y | 5.08% | 6.01% |
| 15Y | 5.47% | 6.27% |
| 20Y | 5.66% | 6.23% |
| 25Y | 5.73% | 6.02% |
| 30Y | 5.73% | 5.71% |
| 40Y | 5.61% | 5.27% |
| 50Y | 5.33% | 4.20% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.31% and the 10-year 5.08%, a 10Y−2Y spread of +76 bp — positively sloped — as of 2026-07-27. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-07-27 | 1m ago2026-06-26 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-27 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.31% | 4.03% | 4.14% | 4.34% | 4.37% | 3.53% | 3.69% |
| 10Y | 5.08% | 4.80% | 4.93% | 5.03% | 4.97% | 4.39% | 4.60% |
| 10Y − 2Y | +76 bp | +77 bp | +79 bp | +69 bp | +60 bp | +86 bp | +91 bp |
Yields by rating group
The same curve split by credit quality: 73 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: AAA to AA- 5.21%, A+ to BBB- 5.25%.
Bonds in this curve
A selection of 30 of the 73 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| United Kingdom | 4.08% | 2027-01-29 | 4.12% | GB00BL6C7720 |
| United Kingdom | 4.18% | 2027-03-07 | 3.75% | GB00BPSNB460 |
| United Kingdom | 4.21% | 2027-07-22 | 1.25% | GB00BDRHNP05 |
| United Kingdom | 4.24% | 2027-12-07 | 4.25% | GB00B16NNR78 |
| United Kingdom | 4.14% | 2028-01-31 | 0.12% | GB00BMBL1G81 |
| United Kingdom | 4.40% | 2028-06-07 | 4.50% | GB00BMF9LG83 |
| Italy | 5.21% | 2028-08-04 | 6.00% | XS0089572316 |
| United Kingdom | 4.33% | 2029-01-31 | 0.50% | GB00BLPK7227 |
| Spain | 4.95% | 2029-04-06 | 5.25% | XS0096272355 |
| United Kingdom | 4.51% | 2030-03-07 | 4.38% | GB00BSQNRD01 |
| United Kingdom | 4.43% | 2030-10-22 | 0.38% | GB00BL68HH02 |
| United Kingdom | 4.55% | 2031-03-07 | 4.12% | GB00BVP99673 |
| United Kingdom | 4.46% | 2031-07-31 | 0.25% | GB00BMGR2809 |
| United Kingdom | 4.62% | 2032-01-31 | 1.00% | GB00BM8Z2T38 |
| Belgium | 5.29% | 2032-05-28 | 5.70% | BE0365452532 |
| United Kingdom | 4.71% | 2033-01-31 | 3.25% | GB00BMV7TC88 |
| United Kingdom | 4.73% | 2033-03-07 | 4.12% | GB00BVP99780 |
| United Kingdom | 4.80% | 2034-01-31 | 4.62% | GB00BPJJKN53 |
| United Kingdom | 4.86% | 2034-07-31 | 4.25% | GB00BQC82C90 |
| United Kingdom | 4.93% | 2035-03-07 | 4.50% | GB00BT7J0027 |
| United Kingdom | 4.97% | 2035-10-22 | 4.75% | GB00BTXS1K06 |
| United Kingdom | 5.07% | 2036-03-07 | 4.25% | GB0032452392 |
| United Kingdom | 5.07% | 2036-07-31 | 4.88% | GB00BWBR1N39 |
| United Kingdom | 5.26% | 2039-01-31 | 1.12% | GB00BLPK7334 |
| United Kingdom | 5.47% | 2042-12-07 | 4.50% | GB00B1VWPJ53 |
| United Kingdom | 5.59% | 2045-01-22 | 3.50% | GB00BN65R313 |
| United Kingdom | 5.71% | 2053-10-22 | 3.75% | GB00BPCJD997 |
| United Kingdom | 5.71% | 2054-07-31 | 4.38% | GB00BPSNBB36 |
| United Kingdom | 5.42% | 2061-10-22 | 0.50% | GB00BMBL1D50 |
| United Kingdom | 5.43% | 2071-10-22 | 1.62% | GB00BFMCN652 |