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Bonds: Heroes or villains?
Business Daily
Jan 12, 2026

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)

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(Picture: Left to right, Victims families and supporters Shelby Knox, Amy Neville, Mary Rodee, Laura Marquez-Garrett, Sarah Gardner, and Lennon Torres react to the verdict outside the Los Angeles Superior Court on the 25th of March 2026. Credit: Getty Images)


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Bonds: Heroes or villains?

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