Tuesday, 2 December 2008

"Where oh where do we put our money?"

The quote in the title comes from the BBC's Robert Peston, who tells us that even professional investors don't know where to put their money (and why would they when they learn that analysts don't tell them the truth?).

Well, the numbers tell us one place they are putting it - the British equivalent of under the mattress: gilts (UK government bonds), where yields have plunged to less than 4%. (Bond yields move down when demand goes up.)

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