The real terms, as you might expect, are high.
A quick scan of the markets around the globe reveals the average closing price in the UK is now about 2.4 per cent above the level that would be considered “normal” at the height of the bubble in the early 1990s.
But this isn’t normal at all.
Gilt bonds are more than just an instrument of speculative wealth.
In some countries they are a way of life.
A few years ago, the UK had more than two million gilt bonds in circulation.
Today, that number is almost zero.
It’s also important to recognise that, despite the hype about gilt closing, gilt markets aren’t the most speculative of investments.
They have a lot of underlying fundamentals that make them suitable for an investor.
For example, they have been built up by governments over the past 60 years, including a wealth tax, an inheritance tax and a progressive income tax.
The income tax system in the United States is much less well-known than in Britain, and is one of the few countries in the world where a single person with a net worth over £1m can own shares.
In fact, the average annual gain for the top 0.1 per cent of the population in the US in the late 1990s was just £30,000, while the average gain for all households was just $7,000.
That’s why we’re seeing the market move to an even more speculative state.
One of the big factors that have caused this market to become more speculative is the fact that there are more bonds available in the market.
The bond market has been fuelled by a boom in demand for government bonds.
In the late 1980s and early 1990t, governments were buying billions of pounds of bonds from bond funds across the world.
But by the end of the decade, the bond markets were on the verge of a crisis.
By the mid-2000s, the market had been flooded with $500bn of debt, which had inflated the value of many countries’ bonds, which then fell in value.
The resulting economic crash left governments with a huge debt burden that they had to pay off.
That created a market for government debt, a process known as debt deflation.
It’s not just about the money that governments borrow, though.
In fact, this debt deflation has created a bubble in financial assets.
It also creates a bubble of speculation around the world, which can result in a lot more people buying bonds than governments can lend out.
What you need to know about the British bond market:The British bond markets are much more speculative than most of the world’s.
But the bubble isn’t over yet.
In April 2018, the Government announced that it would be cutting the interest rates on some of its bonds.
The Bank of England has indicated that it will cut interest rates to zero, and the Government will also be gradually reducing the rate it pays on its own debt by an average of 0.5 per cent each year.
This is a very significant step.
Interest rates are the main driver of a bond’s value, and they have become so low that they are no longer a useful way of investing in the bond market.
As a result, it’s become increasingly difficult for governments to borrow money cheaply.
The Bank of Japan has also cut its rate, and it is predicted that the Japanese Government will soon follow suit.
The fact that this has happened so quickly is a sign that the market is finally going to fall apart.
What to do about the bond bubble?
In the run up to the financial crisis, the British Government cut its interest rates a total of 15 times in just three years.
But the interest rate cut was a temporary measure, as the UK was experiencing a sharp slowdown in the economy.
Since then, interest rates have been cut by another 12 times.
So what should the Government do?
In the short term, the first thing to do is to cut the rates on its debt by at least half, so that it’s a bit more affordable for everyone.
This means that the Government should increase the amount of money that people can borrow to the levels that they could borrow a year ago.
Secondly, the Treasury should also make a major increase in the value and duration of the Treasury bonds it issues, so it can fund its deficit reduction.
Finally, the Bank of Scotland should also increase its holdings of bonds, so its bond holdings are more flexible and it can keep buying new bonds at higher yields.
However, all of this will not solve the problem of the bond bubbles.
Because the bond prices are so high, the risk that someone will buy one of these bonds is so high.
In many countries, the rate of return on bonds is more than 25 per cent.
That’s not the case in the British