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The serialised drama

If after-tax mortgage cost is 5%, expected real ISA return at 5% is roughly break-even before behavioural costs.

Investing on day one of the tax year gives funds an extra ~12 months of growth, dividends and tax-free compounding.

Why this return felt different

Each gilt pays a coupon twice a year and returns par atMaturity. The DMO publishes auction calendars and outstanding stock.

Investors keep cash for upcoming purchases, market-timing or risk management.

Energy is a top-three sector in the FTSE 100. Oil prices feed directly into Shell, BP and a long list of service companies.