LONDON GILTS
Slight Lift In Prices CA’.Z. Press Assn,—Copyright) LONDON, July 21. There was a rally in the gilt-edged market in the last week after the recent sustained slide in prices. The improvement did not go very far however and while undated and some of the longdated stocks showed rises of around half a point, gains in the mediums and shorts were smaller. ’
On Friday, prices deteriorated further and many hit new lows in sympathy with the fresh fall in sterling but news that further deflationary measures were in the pipeline steadied the market on Monday and a subsequent modest improvement was extended on Thursday after Prime Minister Harold Wilson announced the new measures. A considerable amount of switching and outright buying was seen on Thursday morning but business tailed off later. Before this interest and business had been at a low level. Commonwealth loans tended to improve in line with gilts.
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Press, Volume CVI, Issue 31120, 25 July 1966, Page 15
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152LONDON GILTS Press, Volume CVI, Issue 31120, 25 July 1966, Page 15
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