ATHING has changed the investment outlook since war broke out so dramatically as the unfreezing of the gilt-edged market. Recently War Loan and 3% per cent. Conversion floated clear of the ice, and, with the knowledge that even long-dated stocks were saleable, holders lost the urgent desire to sell, Limits have disappeared as if by magic; and even a succession of adverse items of war news has failed to stem the advance. The funds have rcsumed convalescence, though admittedly they are not completely restored to health, states "The Economist."
The freeing of the market has been so striking that the imminent possibility of a first instalment of war borrowing has replaced, as a topic of City discussion, the virtually complete stagnation of gilt-edged stocks—and within little more than a week, It would do the market a disservice io represent its recovery as being complete, But some observers, so impressed with the. recovery, are urging that the opportunity thus presented should be seized forthwith for ensuring at least the first instalment of war borrowing.
Text read from the printed page and cleaned; old type leaves the occasional error.