February 14, 2008 | posted by Michael Baxter in IABN |

Yesterday was one of those days. The biggest-ever loss by a bank was announced; it emerged that Singapore, a bellwether economy appears to be smack bang in the middle of a recession; Japan posted a surprisingly robust performance in the quarter just gone; and meanwhile, Dr Mervyn King and his interest rate-setting chums appeared to doff any hint that their exterior was fashioned from the soft eiderdown of a dove’s feather, and instead released one of the most hawkish reports from the Bank seen in a very long time.

Significant though all these developments are, it seems the truly-profound news sat elsewhere.

First, the Halifax released a report which was both fascinating and disturbing, in equal measure, on home ownership in the UK, and how it has changed over the years, and how it compares with other major economies.

But, the report which should really be making the headlines has barely shown up on the media’s radar at all. It does, after all, have a somewhat dull title: but read the Barclays Capital Equity Gilt Study 2008, and you will uncover conclusions that are quite simply dynamite.