In the United States, bonds issued by the federal government are calledTreasuries, while those issued by the United Kingdom are calledgilts. Treasuries are exempt from state and local tax, although they are still subject to federal income tax.3 Municipal Bonds Municipal bonds, or munis, are bo...
Gilts can be bought directly from the U.K. Debt Management Office’spurchase and sale service. Alternatively, they can be bought on the secondary market, which is accessible via brokers, banks, and so on. Prices are quoted per £100 face value. However, it’s possible to trade gilts in...
While U.S. government securities are commonly called Treasurys, other government securities have their own names. Securities issued by the U.K. are calledgilts, those in France are called OATs, and those issued by Japan are calledJGBs. Buying Government Securities The U.S. Treasury Department ...