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Welcome to Animal Spirits, a show about markets,

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Join Michael Batnik and Ben Carlson

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Then on today's show, we got into the history of fixed income training with Russell.

And I don't think people realize that just how big the bond market is,

that a single issuer could have dozens, hundreds of different bonds flowing out there.

And they don't train nearly as frequently as stocks.

So there's not like a, maybe like a New York stock exchange where everything is listed.

There's much less transparency in the bond market than there is in the stock market.

Well, and it's just not very easy to trade bonds. It's not easy to know what you're getting.

Like the bid-ask spread in bonds could potentially be what?

Wider, especially if you're an individual investor.

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