The Gilt-Edged Market (RLE Banking & Finance)
Business & Finance, Finance & Investing, Banks & Banking, Finance, Nonfiction, Reference & Language, Reference
| Author: | Jeremy Wormell | ISBN: | 9781136268991 |
| Publisher: | Taylor and Francis | Publication: | November 12, 2012 |
| Imprint: | Routledge | Language: | English |
| Author: | Jeremy Wormell |
| ISBN: | 9781136268991 |
| Publisher: | Taylor and Francis |
| Publication: | November 12, 2012 |
| Imprint: | Routledge |
| Language: | English |
This book was written at a time when the market for government stocks in London, the gilt-edged market of the title, had undergone a period of rapid innovation in the forms of its instruments – index-linked stocks, variable rate stocks, and other new types – and of methods of issue. This had been the response of a government that had needed to fund a massive public sector borrowing requirement despite its attempts to slash public expenditure. In the same period the opening of the London International Financial Futures Exchange (LIFFE), with its 20-year gilt contract, had introduced a new method for hedging risk for investment managers. This book charts and analyses these developments.
This book was written at a time when the market for government stocks in London, the gilt-edged market of the title, had undergone a period of rapid innovation in the forms of its instruments – index-linked stocks, variable rate stocks, and other new types – and of methods of issue. This had been the response of a government that had needed to fund a massive public sector borrowing requirement despite its attempts to slash public expenditure. In the same period the opening of the London International Financial Futures Exchange (LIFFE), with its 20-year gilt contract, had introduced a new method for hedging risk for investment managers. This book charts and analyses these developments.
