O'Reilly logo

Bonds, Second Edition by Stan Richelson, Hildy Richelson

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 4

The Evolution of a Bond

FROM VERBAL IOU TO ELECTRONIC ENTRY

Bonds are negotiable or salable loans, and there is a ready marketplace in which to trade them—a big advantage for investors. In 1704, England passed a law making loans negotiable. Today, bonds can be traded like wheat and pork in the commodity markets. The bond markets are called the credit markets, the place where governments and corporations come to gather money to fund their dreams. Formerly the province of bankers and kings, these markets are now open to everyone.

Learning the Language

To fully understand the bond markets, it helps to know why they exist as they do. And while it is true that bond brokers speak English, they use expressions that act as shorthand, creating ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required