The Bond Investing Podcast with Fexingo: Treasuries, Corporate Bonds, and Fixed Income Strategy

State and local government bonds are having a moment. With the 30-year Treasury yield at 5.24 percent and the 10-year at 4.70, tax-exempt municipals are suddenly competing with Treasuries and corporates for investor dollars. In this episode, Lucas and Luna dig into the mechanics: why muni yields have lagged the Treasury selloff, how the 2026 election cycle is shaping issuance, and what the flattening of the muni-to-Treasury ratio means for your portfolio. They also look at the growing role of ETFs in this traditionally retail-heavy market, and why a $3 billion muni bond deal from California earlier this month caught the attention of institutional investors. If you have ever wondered whether tax-free income is worth the complexity, this episode gives you a clear framework to decide. Plus, a reminder about how listener support keeps this show ad-free.

#MunicipalBonds #MuniMarket #TaxExemptIncome #BondETF #TreasuryYields #FixedIncome #Investing #StateAndLocal #CaliforniaBond #Election2026 #PortfolioStrategy #Finance #Business #BondPodcast #FexingoBusiness #BusinessPodcast #YieldCurve #TaxStrategy

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Life insurers are the quiet giants of the bond market, and right now they're shifting hundreds of billions of dollars out of public bonds and into private credit. On this episode, Lucas and Luna dig into the numbers behind the trend — from the 30-year Treasury at 5.25 percent to the yield pickup insurers can get on private assets — and why regulators are starting to pay attention. They talk about the role of the NAIC's new framework, how the 2026 credit cycle is testing the strategy, and what it means for everyday investors who never asked to become the indirect lender to a mid-sized industrial company. If you've ever wondered why your life insurer seems to be taking on more risk, this episode is for you. It's a focused look at one of the most consequential — and least understood — shifts in the bond market right now.

#PrivateCredit #InsuranceInvesting #BondMarket #LifeInsurers #FixedIncome #TreasuryYields #CreditRisk #NAIC #Regulation #Finance #Investing #AssetAllocation #YieldCurve #InstitutionalInvesting #FexingoBusiness #BusinessPodcast #TheBondInvestingPodcast #FinancialStrategy

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Lucas and Luna dig into the quiet reshuffle happening in insurance company bond portfolios now that the 30-year Treasury is yielding around 5.2 percent. They break down how this single level changes the math for insurers, who have to match long-dated liabilities, and why it's pulling them out of corporate credit and back into duration. They walk through a specific example: a life insurer with a 20-year liability, a 5.2 percent Treasury, and the decision to swap a 10-year corporate bond for a 30-year Treasury. They also touch on how the steep curve and the 3-month yield at 3.87 percent are complicating the carry trade, and why pension funds are doing the opposite. Data from August 2026 anchors the conversation.

#BondInvesting #TreasuryYields #InsurancePortfolios #FixedIncome #Duration #YieldCurve #30YearTreasury #CorporateBonds #PensionFunds #InsuranceCompanies #LiabilityMatching #FexingoBusiness #BusinessPodcast #Finance #Investing #Yield #BondMarket #RateEnvironment

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In this episode of The Bond Investing Podcast, Lucas and Luna explore how bond ETFs have become the go-to tool for investors navigating today's volatile fixed-income markets. With the 10-year Treasury around 4.69 percent and the 30-year at 5.22, August has been rough for bonds, yet ETFs like TLT, LQD, and HYG have seen smoother trading than the underlying bonds. Lucas breaks down the mechanics of the creation-redemption process, explaining how authorized participants keep ETF prices in line with net asset value even when the underlying market is thin. They also discuss the shift toward ETF trading in the corporate bond space, where single-name liquidity has dried up, and how this has changed the way institutional investors manage risk. The episode touches on the recent Fed pause and the flattening yield curve, and what that means for ETF investors. If you're wondering whether bond ETFs are a safe haven or a new source of risk, this conversation offers a clear-eyed look at the trade-offs. Plus, Lucas and Luna reflect on the show's 150th episode and what keeps the podcast ad-free.

#BondETF #ETF #Liquidity #FixedIncome #Treasuries #CorporateBonds #FedPause #YieldCurve #CreationRedemption #AuthorizedParticipants #InstitutionalInvesting #BondMarket #TLT #LQD #HYG #Finance #FexingoBusiness #BusinessPodcast

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On this episode of The Bond Investing Podcast, Lucas and Luna examine how the recent steepening of the Treasury yield curve—with the ten-year at 4.66 percent and the two-year at 4.25 percent—is changing the calculus for bond ETF investors. They dig into the mechanics of duration and roll-down, using TLT and SHY as real examples, and explain why the move is compressing risk premiums in corporate bonds. They also touch on the surprising resilience of mortgage-backed securities and what the July jobs miss might mean for the front end. If you hold bond ETFs or are thinking about adding duration, this episode gives you a clear framework for what to watch next.

#BondETF #YieldCurve #TreasuryYields #FixedIncome #BondInvesting #DurationRisk #TLT #SHY #IEF #AGGH #MortgageBonds #FedPause #JobsReport #InvestmentStrategy #Finance #Business #FexingoBusiness #BusinessPodcast

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Lucas and Luna dig into the quiet story at the front of the yield curve: the three-month Treasury is yielding 3.90 percent, the Fed funds rate is at 3.63, and interest on reserve balances sits at 3.65. That means short-term paper is trading rich to the Fed, even as markets price out any chance of a hike after July's jobs miss. They talk about what this spread tells you about funding conditions, how money market funds are holding cash overnight, and why the curve's steepening—ten-year at 4.69 versus two-year at 4.25—is pushing investors further out. They also break down why the front end is where the Fed's control is most visible, and what a flattening here would signal. A useful episode for anyone holding cash or short-duration bonds in a rate cycle that seems stuck on pause.

#TreasuryYields #FederalReserve #FrontEnd #MoneyMarketFunds #YieldCurve #BondInvesting #LucasAndLuna #FexingoBusiness #BusinessPodcast #Finance #Investing #FixedIncome #RatePause #JobsReport #ShortDuration #FedFundsRate #SteepeningCurve #CashManagement

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With the 30-year Treasury yield holding near 5.2 percent and the 10-year at 4.63, mortgage-backed securities are repricing in ways that catch even seasoned bond investors off guard. In this episode, Lucas and Luna break down the mechanics of how mortgage bonds are priced off Treasuries, why the spread has widened this August, and what that means for your bond fund. They walk through the prepayment puzzle, the role of the Federal Reserve as a shrinking buyer, and why the 10-year yield can move more than the 30-year when mortgage rates are the real driver. If you hold a bond ETF like BND or AGG, or you're just trying to understand why your mortgage rate is what it is, this episode gives you the one concrete takeaway: the 30-year mortgage rate is now tracking the 10-year Treasury, not the 30-year, and that's reshaping the whole market. Specific numbers included: the 10-2 spread at 0.44, the 3-month at 3.89, and how the Fed's balance sheet runoff is changing the bid for mortgage debt.

#MortgageBonds #TreasuryYields #BondMarket #FixedIncome #PrepaymentRisk #FedBalanceSheet #BondETF #August2026 #YieldCurve #InterestRates #Finance #Investing #FexingoBusiness #BusinessPodcast #BondPodcast #MortgageRates #10YearTreasury #DollarDuration

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The yield curve has been flattening for months, but in early August 2026 it's doing something different: the 10-year Treasury yield dropped to 4.63 percent while the 30-year sits at 5.18 percent, and the spread between the 10-year and 2-year has widened to 45 basis points. On this episode, Lucas and Luna unpack what a steeper curve means for bond investors, from duration risk to credit spreads. They walk through the recent moves in TLT and IEF, explain why the 2-year yield's stubbornness above the Fed funds rate is a signal, and discuss how the curve steepening could reshape everything from mortgage-backed securities to corporate bond issuance. With Fed Governor Cook hinting at a possible hike and markets bracing for volatility, this is the moment to think about curve positioning. Lucas and Luna share one concrete takeaway: watch the 2-year yield’s reaction to Fed communications—it’s the most sensitive part of the curve right now.

#YieldCurve #BondInvesting #TreasuryYields #FedPolicy #DurationRisk #CreditSpreads #TLT #IEF #FOMC #August2026 #Finance #FixedIncome #Investing #MarketAnalysis #BondMarket #FexingoBusiness #BusinessPodcast #EconomicIndicators

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Bond ETFs are having a moment. As Treasury yields swing and the yield curve flattens, investors are pouring money into bond ETFs like TLT and LQD — but the flows are masking a deeper shift in how the market works. In this episode, Lucas and Luna dig into the surge in bond ETF trading volume, why the 30-year Treasury at 5.23 percent is pushing investors toward ETFs for liquidity, and what the rise of 'bond ETF liquidity' really means for your portfolio. They also break down the growing role of ETFs in the corporate bond market, where trading has historically been slow and manual, and how that's changing the risk picture for fixed-income investors. If you've ever wondered whether bond ETFs are a safe way to play a volatile market, or why the yield curve's moves are making headlines, this episode gives you the clarity you need. Plus, a quick note on how you can support the show. Tune in for a practical, numbers-driven look at bond ETFs in August 2026.

#BondETF #BondMarket #TreasuryYields #YieldCurve #FixedIncome #ETFLiquidity #CorporateBonds #InvestingStrategy #TLT #LQD #FexingoBusiness #BusinessPodcast #FinancePodcast #August2026 #BondInvesting #MarketLiquidity #YieldSpreads #ETFTrading

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In this episode of The Bond Investing Podcast, Lucas and Luna explore how pension funds' shift toward longer-duration assets is reshaping the Treasury market. With the 30-year yield at 5.27 percent and the 10-year at 4.75 percent, they unpack the mechanics behind the 'convexity hedge' and why this structural demand is keeping the yield curve steep. They also discuss what this means for individual bond investors, from duration risk to barbell strategies. Tune in for a clear, data-driven look at a quiet force moving rates.

#BondMarket #PensionFunds #TreasuryYields #DurationRisk #YieldCurve #FixedIncome #ConvexityHedge #BarbellStrategy #Investing #Finance #FexingoBusiness #BusinessPodcast #LiabilityDrivenInvesting #30YearTreasury #10YearTreasury #BondStrategy #InstitutionalInvesting #RetirementPlanning

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