| 单词 | gilt-edged market makers |
| 释义 | gilt-edged market makers gilt-edged market makers(primary dealers) The market makers approved and supervised by the Bank of England for dealing directly with the Bank of England in gilt-edged securities. They have to some extent taken over the role of the government broker. gilt-edged security(gilt) A fixed-interest security or stock issued by the British government in the form of Exchequer stocks or Treasury stocks. Gilts are among the safest of all investments, as the government is unlikely to default on interest or on principal repayments. They may be irredeemable (seeConsols) or redeemable. Redeemable gilts are classified as: long-dated gilts or longs (not redeemable for 15 years or more), medium-dated gilts or mediums (redeemable in 5 to 15 years), or short-dated gilts or shorts (redeemable in less than 5 years). Like most fixed-interest securities, gilts are sensitive not only to interest rates but also inflation rates. This led the government to introduce index-linked gilts in the 1970s, with interest payments moving in a specified way relative to inflation. Most gilts are issued in units of £100. If they pay a high rate of interest (i.e. higher than the current rate) a £100 unit may be worth more than £100 for a period of its life, even though it will only pay £100 on redemption. |
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