What is a bond?
A bond is an IOU.
When you buy a bond, you are loaning money to a borrower (in finance terminology, the borrower is called an ‘issuer’) for a defined period of time.
A bond is an IOU.
When you buy a bond, you are loaning money to a borrower (in finance terminology, the borrower is called an ‘issuer’) for a defined period of time.