TR45

0 5/8% Index-linked Treasury Gilt 2045 · GB00BMF9LH90

Dirty price move

-£0.243

21 Jul 2026 → 20 Aug 2026

Start dirty price

£42.988

model £42.988

End dirty price

£42.746

model £42.746

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	+£0.196	The passage of time at an unchanged yield: the bond simply gets one period closer to redemption.
Rolldown	+£0.022	The yield change that comes from the shorter remaining maturity — rolling down the same curve.
Variation	-£0.480	The move in the curve itself between the two dates.
Unexplained	+£0.020	The residual between the traded prices and what carry, rolldown and variation account for.

The curve, then and now

Market data as of 21 Jul 2026 and 20 Aug 2026.

TR45

What moved the price

The curve, then and now

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