UK Gilts vs Italian BTPs
Eagarthóireacht Financial World News · Míniúchán oideachasúil · Conas a fhaighimid toraíochtaí
Sterling sovereign versus euro periphery spread. Different inflation indices, different politics, different FX.
Tá achoimre iomlán na treorach seo i mBéarla. Tá an teideal, an achoimre agus an nascleanúint i do theanga féin ionas gur féidir leat cinneadh a dhéanamh ar cheart leanúint ar aghaidh.
UK Gilts vs Italian BTPs — the mechanics
BTPs often yield more. That extra is euro credit spread, not a free lunch for a UK household. Hedge EUR and you are left with a spread trade versus gilts.
Sterling UK credit versus euro Italian credit. You cannot subtract the yields and call the gap ‘extra income’ without FX and spread risk.
BTPs can yield more because the market charges a bund spread. Gilts yield what the sterling curve charges. Different meters.
A UK ISA gilt is a tax-wrapper story BTPs in a general account do not copy.
Dated yields for this comparisons topic
The live board on this site prints official or exchange 10-year rates with the observation date on each card (Bank of England IUDMNZC, ECB Maastricht series, CBOE/Yahoo Treasury yields). Individual ISIN prices are estimated from those moves — not a dealer quote.
Illustrative round-number snapshot for education. Figures are not a live market feed. Confirm with the UK DMO, TreasuryDirect, Bundesrepublik Deutschland Finanzagentur, Italian MEF, Agence France Trésor or Swiss Confederation before acting.
UK Gilts: UK Treasury 4.25% 2034 yield 5.25%, estimated price 93.7, duration 6.4y, maturity 2034-03-07.
US Treasuries: US Treasury 10-year Note yield 4.97%, estimated price 91.9, duration 8.2y, maturity 2036-08-15.
German Bunds: German Bund 10-year yield 3.19%, estimated price 94.1, duration 8.6y, maturity 2036-08-15.
Italian BTPs: BTP 10-year yield 3.99%, estimated price 96.1, duration 8.1y, maturity 2036-03-01.
French OATs: French OAT 10-year yield 4.00%, estimated price 89.8, duration 8.3y, maturity 2036-05-25.
Swiss Confederation: Swiss Confederation 10-year yield 0.42%, estimated price 100.7, duration 9.4y, maturity 2036-06-28.
If a number here disagrees with your broker, trust the broker to trade. Use this page to understand the contract, then confirm the screen.
Official sources (Comparisons)
Primary statistics and prospectuses for Comparisons are published by the issuer, not by this newsroom. The labelled links at the end of this page go to those official sites (DMO, TreasuryDirect, Finanzagentur, MEF, AFT, SNB or ECB as relevant).
Our live board is a teaching overlay: dated prints, named sources, estimated ISIN lines. It is not a replacement for the issuer’s calendar.
Príomhphointí
- Sterling UK credit versus euro Italian credit.
- Any market figure belongs next to a date and a named source (BoE, ECB, CBOE/Yahoo). If those disagree with your broker, the broker wins for trading.
- Credit of a G7 government in its own currency is not the same as a stable screen price, and not the same as a bank deposit.
CC
- Are BTPs ‘high yield’?
- They are still government bonds, not junk corporates. Spreads can still be wide versus bunds.