T28

0 1/8% Index-linked Treasury Gilt 2028 · GB00BZ1NTB69

Return

+£0.932

04 Sep 2026 → 02 Oct 2026

Start dirty price

£148.956

model £137.977

End dirty price

£149.888

model £138.565

Mark-to-market is the traded price; mark-to-model discounts the remaining flows along the fitted curve. The decomposition below is computed on the model prices.

What moved the price

Effect	Contribution	What it is
Carry	+£1.290	The passage of time at an unchanged yield: coupons earned plus the bond getting closer to redemption.
Rolldown	+£0.028	The yield change that comes from the shorter remaining maturity — rolling down the same curve.
Variation	-£0.730	The move in the curve itself between the two dates.
Unexplained	+£0.344	The residual between the traded prices and what carry, rolldown and variation account for.

The curve, then and now

Market data as of 04 Sep 2026 and 02 Oct 2026.

T28

What moved the price

The curve, then and now

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