The Gilt-Edgedl Market (RLE Banking and Finance)
Author | : Jeremy Wormell |
Publisher | : Routledge |
Total Pages | : 218 |
Release | : 2012-05-25 |
ISBN-10 | : 9780415538503 |
ISBN-13 | : 0415538505 |
Rating | : 4/5 (505 Downloads) |
Download or read book The Gilt-Edgedl Market (RLE Banking and Finance) written by Jeremy Wormell and published by Routledge. This book was released on 2012-05-25 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.