Marketplace · Wednesday, September 23, 2026
Robin Wigglesworth, author of 'A Fabulous Debt,' highlights the bond market as the bedrock of the financial system, responsible for most lending. He warns that while less transparent than stocks, the bond market is prone to 'hissy fits' that can cause global problems, citing the 2008 crisis as an example.
“I think that's completely wrong. It is the bedrock to the entire financial system. It's actually where most lending happens through the bond market and through the banking system.”
“But we don't really have the same guardrails around the bond market. And, you know, it's fairly transparent, it's incredibly dynamic. But it, you know, it is just as prone to hissy fits as the banks and the stock markets are.”
“When the bond market broke in 2008, that was a global cataclysm. Because the bond market kind of represents the cost of money.”