British Gilts

(c) 2010 F. Bruce Abel


Article by Landon Thomas on the British Gilts has a key glitch in paragraph three.

http://topics.nytimes.com/topics/reference/timestopics/people/t/landon_jr_thomas/index.html?inline=nyt-per

Saying the yields on the 10-yr British gilt "slipped" is the opposite of what happened. A slipping yield would mean the 10-year gilt would have gone up in value.

This mistake reveals the problem with financial reporting: articles are written by people without the proper experience. But a lot of semi-experienced people get things wrong when it comes to bonds. Otherwise the story would have been an important one. And those of us who do understand bonds can glide over the story without much problem, other than to wonder what else might be wrong with the reporting.