UK debt: Hot cakes or hot potatoes?

The nay sayers are out, but yesterday's £4 billion UK gilts auction was over 2.5 times over subscribed.

Yes it was an attractive issue. But the point is a simple one that the doom merchants would like to ignore and it's this: when the time comes to put cash on the table people are buying Uk government debt.

And I suspect they will do so for a long, long time to come, at affordable rates of interest.

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