Bonds: Heroes or villains?
The story of the bond market and how these IOUs have shaped the modern economy
Business Daily · BBC World Service
Audio is streamed directly from the publisher (open.live.bbc.co.uk) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
We explore how the world became so dependent on bonds, those IOUs from governments and firms that helped build the modern economy. Bonds are often dismissed as a dull corner of finance, but behind the scenes they have played a central role in major economic dramas around the world.
We hear about their history, how they have shaped companies and countries, and why some fear the bond market could trigger the next global meltdown.
If you'd like to get in touch with the programme, our email address is [email protected]
Presenter: Rob Young Producer: Gideon Long
(Photo: A bond issued in 1648 by a Dutch water board to finance improvements to a local dike system. The bond, written on vellum, is held at Yale University Beinecke Library and is believed to be one of the oldest in the world that still pays interest. Credit: Yale University)