The local bond market has lately been encountering some considerable turbulence. Various listed bond issues are on the radar as to possible difficulties, nay default, in the redemption payment on maturity. Nor is it the simplistic explanation of a stockbroker that eventual defaults are the result of the strong growth of the bond market. A considerable number of local bond issues have been the easy way out of issuers’ inability to make sound bankable proposals to the commercial banks. There is an undesirable motive for tapping the local bond market because it is far less demanding than the savvy bankers and bond issuers can get away with much more favourable terms on the shallow sophistication of the bond market.