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When I was asked to make a programme about Bonds, I leapt at the chance.

After all, I'm a huge fan of James Bond, the suave British spy, who repeatedly saves the world,

but I was wrong. These aren't the bonds with tuxedos and martinis. These are financial bonds,

silent operators in the global economy. And like their fictional namesake, they've worked in the

shadows, rarely noticed, yet shaping the fate of nations.

They've even played roles in wars and crises, but here's the twist. Today, some economists see

bonds not as heroes, but as villains, dangerous, capable of detonating the world economy.

In this edition of Business Daily with me, Rob Young,

we'll explore how the world became so dependent on bonds.

It's hard to understate their importance.

It's really, really important for the economy.

You'll hear how bonds have shaped companies and countries

and why some fear they could trigger

the next global meltdown. I think it's something where governments need to make adjustments,

but probably won't, until there's some kind of fiscal crisis. That's Business Daily from the BBC.

Author Ian Fleming once said that James Bond was the dullest name he could think of,

and the word Bond has carried that same reputation for centuries.

Bond markets have never dazzled the public like their glitzaier cousin, the stock market,

but don't be fooled.

Bonds have been powerful for

hundreds of years, even in Shakespeare's time. I'll have my bond. Speak not against my bond. I have

...