Britain’s stockmarket has languished. Its gilt market may be next
Over the next few decades, demand is set to slowly leak away
Look at britain’s ftse 100 share index and you might think that the City of London is once again on top of the world. Investors around the globe had a terrible time in 2022, but those who stashed their money in London’s bourse were spared. America’s tech-heavy nasdaq index fell by a third, making it one of the worst years on record. Meanwhile, the ftse 100 hit a new record high last month. While rising interest rates and higher commodity prices hammered many stocks, they flattered the banks, miners and energy giants of London’s once-unfashionable stock exchange.
This article appeared in the Britain section of the print edition under the headline “Gilt complex”
Britain March 4th 2023
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