United Kingdom: bonds

The British public debt is the total quantity of money borrowed by the Government of the United Kingdom at any one time through the issue of securities by the British Treasury and other government agencies. The government bonds called gilts or stocks.

As of Q1 2013 total amount outstanding is £1,278 billion, including inflation uplift for index-linked gilts.

UK sovereign debt market is dominated by long and super-long issues: with fixed coupon (conventional gilts), and, less frequently, with inflation-linked coupon (index-linked gilts). Gilt-edged securities are listed on the London Stock Exchange. Auctions are take place every week (round £2.3 billion each week).

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
GBP 100 1 485 505 648 444
CNY 1 3 000 000 000
municipal
GBP 3 884 971 000
corporate
USD 1417 618 410 340 744
GBP 1403 435 186 036 010
EUR 911 794 181 297 490
RUR 189 111 071 081 500
CHF 48 11 047 000 000
HKD 36 14 731 000 000
IDR 33 12 928 500 000 000
ZAR 33 59 509 100 000
AUD 32 6 649 720 000
NOK 31 26 486 500 000
BRL 28 2 592 318 000
JPY 28 482 588 000 000
INR 21 34 610 000 000
CNY 18 9 729 000 000
SEK 12 11 581 600 000
CAD 12 5 445 000 000
TRY 11 1 169 200 000
MXN 9 9 429 650 000
KZT 5 76 100 000 000
NZD 5 272 100 000
RON 5 561 750 000
SGD 4 1 470 000 000
ITL 4 2 525 000 000 000
AMD 4 20 016 000 000
KRW 3 100 000 000 000
UYU 2 478 975 000
ARS 2 400 000 000
DKK 2 5 330 000 000
FRF 2 1 316 000 000
GEL 2 132 000 000
ZMW 1 50 000 000
RSD 1 2 500 000 000
PLN 1 100 000 000
COP 1 15 000 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
RIA Rating *** Sovereign ratings ***
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Rating Agency RAEX (Expert RA) *** Foriegn curr. scale ***
Rating Agency RAEX (Expert RA) *** Local curr. scale ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
RBS, 0.15% 30mar2018, JPY - International bonds XS1584039785 0.15% 10 000 000 000  JPY 03/21/2017 03/30/2018
Arrow Global, FRN 1apr2025, EUR - International bonds XS1533918824 3M EURIBOR + 2.875% 400 000 000  EUR 03/21/2017 04/01/2025
HSBC Holdings plc, FRN 27sep2022, EUR - International bonds XS1586214956 3M EURIBOR + 0.7% 1 500 000 000  EUR 03/20/2017 09/27/2022
RSA Insurance Group, FRN perp., DKK (Conv.) - International bonds XS1584997891 3M CIBOR + 4.85% 650 000 000  DKK 03/20/2017
RSA Insurance Group, FRN perp., SEK (Conv.) - International bonds XS1584996737 3M STIBOR + 5.25% 2 500 000 000  SEK 03/20/2017
Goldman Sachs International, 7.25% 17mar2020, ZAR - International bonds XS1505105970 7.25% 500 000 000  ZAR 03/17/2017 03/17/2020
Goldman Sachs International, 6.25% 17mar2020, MXN - International bonds XS1505106192 6.25% 800 000 000  MXN 03/17/2017 03/17/2020
EBRD, 6.125% 30mar2020, INR - International bonds XS1585456756 6.125% 1 500 000 000  INR 03/17/2017 03/30/2020
United Kingdom, Bills 18sep2017 6m - Domestic bonds GB00BXRFP702 0% 1 000 000 000  GBP 03/17/2017 09/18/2017
Barclays, FRN 29mar2019, USD - International bonds US06741VPH95 3M LIBOR USD + 0.7% 250 000 000  USD 03/16/2017 03/29/2019

World Bond Market Indicators

Daily indices

Type: 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017 03/14/2017
Treasuries
Gilt 10Y YTM 1.18 1.25 1.23 1.24 1.25 1.21 1.22
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Monthly indices

Type Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016
EU Long-term interest rates
United Kingdom, % 1.24 1.38 1.25 1.22 0.94 0.67 0.59
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World Bond market statistics

Monthly indices

Type Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016
Domestic govt Bonds markets (Western Europe)
United Kingdom govt Bonds outst., EUR bln (without Bills) 1 760.43 1 741.54 1 771.73 1 766.67 1 662.38 1 729.82 1 757.80
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Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of developed countries
British international bonds, USD bln 868.300 974.600 988.800 3.082 3.050 3.140 3.204
BIS net issues of international-bond market of developed countries
International-bond net issue of the United Kingdom, USD bln 12.900 23.700 3.400 23.200 -33.400 -18.200 15.900

New issues of Developed markets International Bonds

Monthly indices

Type Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016
Developed Market International Bonds (excl. USA)
New issues of international bonds (UK), USD bln 15.712 27.805 6.101 16.455 8.635 31.980 39.446
Number of new international bond issues (UK) 70 84 46 71 67 101 81
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Developed Markets International Bonds

Monthly indices

Type Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 2016
International bonds Developed Markets
United Kingdom sovereign international bonds, USD bln 0.686 0.686 0.676 0.686 0.686 0.709 0.711
United Kingdom municipal international bonds, USD bln 0.835 0.839 0.819 0.838 0.364 0.389 0.393
United Kingdom corporate international bonds, USD bln 1 505.122 1 528.903 1 494.718 1 520.498 1 529.962 1 587.282 1 630.043
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Money market

Daily indices

Type: 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017 03/14/2017 03/13/2017
IRS GBP (Annual Fixed vs 6M Libor) 
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Risk Management Institute

Daily indices

Type: 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017 03/14/2017 03/13/2017
RMI CVI - Europe
UK CVI value weighted  12.67 12.54 12.54 12.58 12.66 12.80 12.68
UK CVI tail  144.30 143.54 142.91 144.67 138.42 145.27 138.58
UK CVI equally weighted  33.51 33.51 33.42 33.57 33.40 33.84 33.52
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Stock market (World)

Daily indices

Type: 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017 03/14/2017
Stock market (Developed countries)
FTSE 100  7 325 7 378 7 430 7 425 7 416 7 369 7 358
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