Bonds Are An IOU Do you hear the word bonds on the news and have no idea what they are talking about? Let’s unwrap them and give ourselves a good basic understanding. A bond is simply a document with an IOU written on it. It is the document that contains the details of a loan. Can I Borrow Twenty Bucks? In day-to-day live we use different lingo, but the concept is the same. “Can I … read more Bonds vs Interest