Broad Market Index is an appropriate Benchmark for a single T-Bond portfolio?

[futurevalue]

Hi I am now studying portfolio performance evaluation.
Here is an Example 10 of Curriculum Book of the section.

As a BM(Benchmark), in order to evaluate the performance of government bond portfolio, it says, Broad market index is appropriate.

Doesn’t the Broad Market Index usually mean Stock market index such as S&P500 or Russel200…?
Do you call bond index “Broad Market index” as well??

If it is a stock market index, how come Stock market index is a suitable BM for Bond portfolio? Can you help me understand?

Thanks!

[S2000magician]

@futurevalue

Doesn’t the Broad Market Index usually mean Stock market index such as S&P500 or Russel200…?

Not when you’re talking about bonds.

They mean a broad market bond index, such as the Bloomberg Barclays Global Aggregate Bond Index, or the Citi World Broad Investment-Grade Bond Index (WorldBIG)