At the moment the public tend to regard gilt-edged securities, on account of their trustee status, as quite safe for investors and trustees.
The consequences of that for interest rates, for the gilt-edged market are serious enough, and that brings me to the other consequences.
There was no vast rush into liquidity and there were no extraordinary, heavy sales of gilt-edged.
They all held on to far more gilt-edged than they sold.
I am sure that, whoever this representative may be, he knows all about selling gilt-edged stock.
On the gilt-edged market, it is not unnatural that the difficulties are so great.
It will have transactions in the gilt-edged market every day, buying and selling shares.
If people bought gilt-edged stock when many of these houses were built they would not find much difference in the yield from stocks or houses.
