MNI Gilt Week Ahead - 21 July 2025

See the full PDF including BOE balance sheet tracker, supply previews for the week ahead, projected gilt market cash flows and issuance calendars / results.

• With the fall out from last week's data still in the forefront of UK market participants, the data in the week ahead is not expected to really challenge that narrative with the highlight being the flash PMI data due for release on Thursday. There are a number of other releases due this week that are worth watching with public finance data due on Tuesday, Brightmine pay data in the early hours of Wednesday, GfK consumer confidence data the early hours of Friday and then finally retail sales to conclude the week later Friday morning.
• There is only one scheduled appearance from an MPC member ahead of the August MPR – and that will come from Governor Bailey as he testifies with other FPC members ahead of the Treasury Select Committee with regards to the Financial Stability Report. We look at the main things to watch on monetary policy.
• We will also be watching this week to see whether the dates of the Autumn Budget is announced (we pencil in 5 November).
• Furthermore, we look ahead to this afternoon's APF sales operation and the two gilt auctions scheduled for the week.