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The Gilt-Edged Market (RLE Banking & Finance)

By Jeremy Wormell

Routledge – 2012 – 198 pages

Series: Routledge Library Editions: Banking & Finance

Purchasing Options:

  • Add to CartPaperback: $54.95
    978-0-415-75188-9
    March 10th 2014
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    978-0-415-53850-3
    May 24th 2012

Description

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.

Contents

Editor’s preface. List of Figures and Tables. Acknowledgements. Introduction. Author’s note 1. The Context 2. The Authorities 3. The Investor: Insurance Companies and Pension Funds 4. The Investor: others 5. The Market Place 6. Selling Stock by Tap Issues – the Classic Game 7. Variations in Funding Techniques 8. Futures: The Twenty-Year Contract 9. Interest Payment and Taxation 10. The Term Structure of Interest Rates 11. Value Appendix 1: Switching Appendix 2: Prospectuses. Glossary. Bibliography. Index.

Author Bio

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Name: The Gilt-Edged Market (RLE Banking & Finance) (Hardback)Routledge 
Description: By Jeremy Wormell. 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...
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