{"href":"https://api.simplecast.com/oembed?url=https%3A%2F%2Fworking-capital.simplecast.com%2Fepisodes%2Fbonds-are-boring-until-they-arent-YbERaGtE","width":444,"version":"1.0","type":"rich","title":"Bonds Are Boring Until They Aren't","thumbnail_width":300,"thumbnail_url":"https://image.simplecastcdn.com/images/dcac09bf-f18d-4e9f-bd66-4b53719ce152/f6199b62-7a1e-4d16-a728-060d3150159a/2026-06-30t13-47-51-850z-cover.png","thumbnail_height":300,"provider_url":"https://simplecast.com","provider_name":"Simplecast","html":"<iframe src=\"https://player.simplecast.com/75448bdb-cbd2-438c-9663-a62085be9d04\" height=\"200\" width=\"100%\" title=\"Bonds Are Boring Until They Aren&apos;t\" frameborder=\"0\" scrolling=\"no\"></iframe>","height":200,"description":"Bonds are sold as the safe, boring part of a portfolio — but they're actually a bet on interest rates, inflation, and whether a borrower will pay you back. This episode makes bonds concrete by walking through what actually happens when you lend money to a government or corporation, why the interest rate you're promised matters less than you think, and what happens when rates move after you've locked in your return. We break down duration risk (how sensitive a bond is to rate changes), credit risk (whether the borrower might default), and why bond prices move inversely to interest rates in a way that confuses most people. You'll see real examples of bond catastrophes, from municipal bankruptcies to corporate defaults, and understand why a \"safe\" bond can actually lose 30% of its value. The counterintuitive lesson: bonds are a bet, not a guarantee, and understanding what you're actually betting on is the difference between boring income and a financial trap."}