Joanne Bianco on Bond ETFs, Credit Spreads & Fixed Income Opportunities Into 2026

In the 80th episode of the Market Misbehavior Podcast, Dave speaks with Joanne Bianco, Senior Investment Strategist at BondBloxx and longtime fixed income portfolio manager. Joanne shares how she thinks about the macro backdrop, why corporate credit fundamentals remain strong, and how investors can use bond ETFs—across Treasuries, investment grade, high yield, and private credit—to build smarter fixed income allocations. Recorded 12/2/25.

Topics covered include:
📈 How years as a credit analyst and PM shaped Joanne’s fixed income framework
📈 The state of the US economy, inflation, and the Fed’s dual mandate
📈 Credit spreads: why they’re tight, what could change, and what’s different this cycle
📈 Where she sees opportunity: IG corporates, high yield, emerging markets, and tax-aware ideas
📈 Using bond ETFs for income, diversification, and risk management
📈 Key risks in bond ETFs: rate risk, credit risk, and what investors often misunderstand
📈 Accessing private credit via ETFs and the role of CLOs and middle-market loans
📈 Practical guidance for newer bond investors: risk tolerance, education, and staying informed

Key takeaway: For Joanne, fixed income starts with fundamentals and realism about risk. In a world of resilient corporate balance sheets and still-attractive yields, bonds and bond ETFs can offer meaningful income and diversification—without requiring aggressive Fed cuts. The challenge (and opportunity) is matching exposures to your risk tolerance, time horizon, and overall portfolio goals.

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The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice. Some of the links in this description and in the video may be affiliate links, which means you pay nothing more and it helps me to make Market Misbehavior awesome! As an Amazon Associate, I earn from qualifying purchases. For full disclaimer, please see our website: https://www.marketmisbehavior.com/dis....

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