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

With the 2-year Treasury yield at 4.20 and the Fed holding rates at 3.63, bond ladder strategies are shifting. Lucas and Luna break down why the front end of the curve is more attractive than longer maturities, how to structure a ladder for 2026, and why active management of rungs matters more now than in the ZIRP era. They reference the current yield curve, the Fed's stance under Chairman Warsh, and the implications for income investors. #BondLadderStrategy #TwoYearYield #TreasuryYields #FixedIncome #BondInvesting #FedPolicy #YieldCurve #BondPortfolio #IncomeInvesting #BondETF #LucasAndLuna #FexingoBusiness #BusinessPodcast #Finance #Investing #BondMarket #Treasuries #PortfolioConstruction Keep every episode free: buymeacoffee.com/fexingo

The Fed funds rate has been stuck at 3.63 percent since May 2026, and the yield curve is finally positive after two years of inversion. Lucas and Luna explore how this plateau affects bond ladder construction — from the 2-year note at 4.20 to the 30-year bond at 4.93. They walk through a concrete example: building a five-rung ladder that captures the 10-year yield at 4.49 while maintaining liquidity in short maturities. They also discuss why Chairman Warsh's hawkish stance makes duration risk trickier than usual. If you've been wondering whether to extend duration or stay short, this episode gives you a framework for the decision. #BondLadder #FedFundsRate #YieldCurve #TreasuryYields #KevinWarsh #FixedIncomeStrategy #DurationRisk #2YearNote #10YearYield #30YearBond #BondInvesting #Finance #FexingoBusiness #BusinessPodcast #PodcastEpisode #InvestmentStrategy #InterestRates #BondMarket Keep every episode free: buymeacoffee.com/fexingo

Episode 58 of The Bond Investing Podcast digs into the most consequential Fed statement rewrite in years. Chairman Warsh pared down the June 2026 FOMC statement, removing the cutting bias and signaling a higher-for-longer regime. Lucas and Luna break down what actually changed — the deleted forward guidance, the new language on inflation risks, and the hawkish abstention from rate forecasts. They connect the rewrite to the stubborn 10-year yield at 4.43 and the 10Y-2Y spread compressing to 29 basis points. If you hold bonds or manage duration, this episode gives you the exact toolkit to reposition. No fluff. No hot takes. Just what the new statement means for your portfolio. #BondInvesting #FederalReserve #FOMC #FedStatement #ChairmanWarsh #TreasuryYields #BondStrategy #FixedIncome #ForwardGuidance #HigherForLonger #YieldCurve #10YearYield #2YearYield #MonetaryPolicy #CentralBanking #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

The June 17, 2026 Fed decision saw Chairman Warsh dramatically rewrite the rate statement, stripping out any cutting bias and signaling a potential hike later this year. Lucas and Luna break down what this means for bond investors: how the 2-year yield is reacting, why the 10-year is stuck at 4.43, and whether the new FOMC language shifts the odds for a 2026 rate increase. They also discuss what Jeffrey Gundlach's warning about Warsh being no 'easy money' chair means for duration positioning and yield-curve trades. #FOMC #FederalReserve #Warsh #BondMarket #Treasuries #YieldCurve #Gundlach #RateHike #MonetaryPolicy #FixedIncome #Investing #Finance #Business #FexingoBusiness #BusinessPodcast #BondInvesting #TwoYearYield #TenYearYield Keep every episode free: buymeacoffee.com/fexingo

Episode 56 of The Bond Investing Podcast dives into the mechanics of bond ETF arbitrage and how it impacts investor returns in 2026. Lucas and Luna explore the growing gap between ETF prices and their underlying net asset values, using real data from the 10-year yield at 4.43%, the LQD ETF at 109.12, and the recent surge in ETF trading volumes. They discuss how authorized participants keep prices in check, why spreads have widened during Fed uncertainty, and what individual investors should watch for. The conversation ties to the Fed Chair Warsh's potential withholding of the dot plot and the liquidity shifts in corporate bonds. A unique angle that connects market structure to everyday bond investing decisions, with actionable takeaways for listeners. No fluff, just specific numbers and clear explanations. #BondETFs #ETFArbitrage #FixedIncome #Treasuries #CorporateBonds #LQD #TLT #MarketStructure #AuthorizedParticipants #Liquidity #FedWarsh #DotPlot #YieldCurve #10YearYield #BondInvestors #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In Episode 55 of The Bond Investing Podcast, Lucas and Luna examine a quiet but powerful trend in fixed income: credit spreads are compressing as the Federal Reserve signals a dovish stance. They anchor the discussion on the Bloomberg US Corporate Bond Index, where the option-adjusted spread has tightened to 95 basis points — a level not seen since 2021. Lucas explains how the Fed's pivot, with the effective funds rate at 3.63% and the 10-year yield at 4.47%, is squeezing spreads despite slowing economic growth. Luna challenges whether this is a signal of confidence or complacency. They dig into the mechanics: falling Treasury yields boost bond prices, but tighter spreads reduce yield pickups. Lucas warns that spread compression often precedes a reversal, especially if growth disappoints. They reference the recent decline in high-yield spreads, with the HYG ETF up 0.7% over five days, and question whether investors are being compensated for risk. The episode closes on a note of caution: in a tight credit market, liquidity can vanish fast. #CreditSpreads #CorporateBonds #FederalReserve #DovishFed #SpreadCompression #OptionAdjustedSpread #BondMarket #FixedIncome #TreasuryYields #HighYield #InvestmentGrade #BloombergBarclays #HYG #LQD #LiquidityRisk #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a quiet-but-telling shift in the Treasury market: the return of auction tails. After years of auctions clearing at—or through—the when-issued yield, recent 10-year and 30-year reopenings have printed with visible tails. They examine the $24 billion 10-year note reopening on June 10, which stopped 0.6 basis points through the WI yield, and the 30-year bond reopening that tailed 0.8 basis points. Lucas explains what tails signal about dealer capacity and investor demand, and why this matters for anyone holding bond ETFs or laddered portfolios. They also discuss the role of primary dealers pulling back balance sheet as Treasury supply remains elevated. The episode ends with a natural donation tie-in: listener support helps keep the show independent and ad-free. #TreasuryAuctions #AuctionTail #BondMarket #FixedIncome #10YearNote #30YearBond #PrimaryDealers #MarketDepth #TreasurySupply #Investing #Finance #BondInvesting #FexingoBusiness #BusinessPodcast #Liquidity #RiskManagement #FiscalPolicy #CentralBanking Keep every episode free: buymeacoffee.com/fexingo

In Episode 53 of The Bond Investing Podcast, Lucas and Luna explore a quiet but seismic shift in corporate bond liquidity. With the 10-year Treasury yield hovering at 4.48 and the 30-year at 4.97, the hosts examine how electronic trading platforms and new SEC rules are changing the way institutional investors buy and sell credit. Lucas breaks down data from the TRACE system showing that average trade sizes for investment-grade bonds have dropped 40 percent since 2020, while the number of daily trades has surged. Luna points to the rise of portfolio trading—where dealers swap baskets of bonds in a single ticket—and what that means for liquidity during stress events. They discuss how the shift from 'riskless principal' to agency trading models affects execution costs for pension funds and insurance companies. No ticker-tape reading, just a clear-eyed look at the plumbing beneath the bond market's surface. #CorporateBonds #BondLiquidity #ElectronicTrading #TRACE #PortfolioTrading #SECRules #InvestmentGrade #FixedIncome #Treasuries #YieldCurve #MarketStructure #PensionFunds #InsuranceCompanies #Finance #BondInvestingPodcast #FexingoBusiness #BusinessPodcast #Episode53 Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast, Lucas and Luna dig into the surprising rally in Treasury Inflation-Protected Securities (TIPS) and what it signals about the market's evolving inflation outlook. With the 10-year yield dipping to 4.45 percent and the 2-year at 4.05 percent, the yield curve is steepening, but TIPS are outperforming nominal Treasuries. The hosts explore the mechanics of breakeven inflation rates, why TIPS are drawing demand from both retail and institutional investors, and whether this is a hedge against inflation or a bet on policy missteps. They also discuss how the TIPS ETF (ticker TIP) is now up 0.4 percent this week, and what that means for bond portfolios. A tight, data-driven conversation for fixed-income investors trying to read the signals in the inflation-protected market. #TIPS #Inflation #BondInvesting #Treasuries #FixedIncome #YieldCurve #BreakevenRate #TIPETF #CPI #RealYield #PortfolioHedge #InflationExpectations #FedPolicy #Finance #Business #FexingoBusiness #BusinessPodcast #BondMarket Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast, Lucas and Luna dive into one of the most significant bond market moves of 2026: the steepening of the 10-year versus 2-year Treasury yield spread. As of June 12, the spread hit 39 basis points, up from near zero just months ago. They explore why this steepening is happening, what it signals for the economy, and how bond investors can adjust their portfolios. Lucas explains the role of Fed rate cuts and term premium, while Luna questions whether the spread is a reliable recession indicator. With the 10-year yield at 4.45% and the 2-year at 4.05%, they discuss the implications for duration positioning, curve trades, and total return strategies. If you're a fixed-income investor trying to navigate a normalizing yield curve, this episode offers practical insights grounded in current data. #YieldCurveSteepening #10YearTreasury #2YearTreasury #BondMarket #FixedIncome #TreasurySpreads #FederalReserve #Duration #CurveTrade #RecessionIndicator #TermPremium #FexingoBusiness #BusinessPodcast #Finance #Investing #Podcast #BondPodcast #June2026 Keep every episode free: buymeacoffee.com/fexingo

Episode 50 of The Bond Investing Podcast with Fexingo. The yield curve inverted in 2022, predicted recession, and then un-inverted in 2025 without one arriving. Lucas and Luna break down what actually happened: the role of the term premium, how 2026's 10-year yield at 4.49 percent fits into the story, and why the 10y-2y spread at 0.39 matters now. They look at the difference between the 2020 inversion (which did predict a recession) and the 2022-2025 inversion (which didn't), explain the term premium's return from negative territory, and discuss what the current 39-basis-point spread signals for bond strategy. Specific, data-driven, and built for investors who want to understand the curve beyond the headlines. #YieldCurve #Inversion #BondMarket #Treasuries #TermPremium #Macro #Finance #Investing #FixedIncome #FederalReserve #LucasAndLuna #FexingoBusiness #BusinessPodcast #TreasuryYields #10YearYield #2YearYield #Spread #RecessionSignal Keep every episode free: buymeacoffee.com/fexingo

Episode 49 of The Bond Investing Podcast with Fexingo. Lucas and Luna examine how bond ETFs are reshaping the structure of the fixed-income market, focusing on the massive growth of BlackRock's iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) and its impact on liquidity and pricing. With LQD trading at $109.01 as of June 13, 2026, and the 10-year Treasury yield at 4.45 percent, they discuss how ETF arbitrage is changing bond price discovery, the narrowing of bid-ask spreads, and what this means for traditional bond managers. They also explore the spillover effects on corporate bond issuance and the role of authorized participants during market stress. Specific numbers on LQD's trading volume and the shift in market share from cash bonds to ETFs are cited, grounded in the current market environment of a flattening yield curve and the 2-year yield at 4.05 percent. #BondETFs #LQD #InvestmentGradeBonds #FixedIncome #MarketStructure #Liquidity #BlackRock #iShares #ETFLiquidity #BondPricing #Arbitrage #PriceDiscovery #BidAskSpread #BondIssuance #AuthorizedParticipants #YieldCurve #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Episode 48 of The Bond Investing Podcast: Lucas and Luna unpack the quiet revolution in Treasury issuance — the reintroduction of coupon bonuses for primary dealers. With the 10-year yield at 4.45 and the 30-year at 4.95, the Treasury is tweaking auction mechanics to improve liquidity and reduce volatility. Lucas explains how the 'when-issued bonus' works, why it matters for the $27 trillion Treasury market, and what it means for bond investors watching the yield curve. They also discuss the role of dealer balance sheets, the impact on the 5-year note at 4.21, and why this could be the most consequential operational change in years. Plus: a light-touch listener support moment. Specific, data-driven, and focused on one concrete angle: the mechanics of Treasury auctions and their ripple effects. #TreasuryAuction #PrimaryDealers #BondMarket #YieldCurve #10YearYield #30YearYield #5YearNote #TreasuryBonds #Liquidity #AuctionMechanics #FixedIncome #Finance #Investing #FexingoBusiness #BusinessPodcast #BondInvesting #CouponBonus #WhenIssued Keep every episode free: buymeacoffee.com/fexingo

The 30-year Treasury yield has dropped nearly 6 basis points this week to 4.97 percent, and Lucas and Luna explore what this means for long-duration bond investors. They discuss how the steep yield curve is changing the calculus for pension funds and insurance companies, why some portfolio managers are extending duration now, and what the 30-year at 4.97 tells us about inflation expectations and Fed policy. Drawing on the latest data from June 12, 2026, the hosts examine whether the long bond is finally offering an entry point after months of elevated yields. Luna challenges Lucas on the risk of a re-steepening, and Lucas walks through the convexity math that makes long-duration bonds attractive at these levels. A focused episode for bond investors wondering whether now is the time to lock in 30-year yields above 4.9 percent. #30YearTreasury #BondInvesting #FixedIncome #YieldCurve #Duration #Convexity #PensionFunds #Insurance #FedPolicy #InflationExpectations #TLT #LongBonds #PortfolioStrategy #Finance #Investing #FexingoBusiness #BusinessPodcast #BondMarket Keep every episode free: buymeacoffee.com/fexingo

In this episode, Lucas and Luna examine the unusual shift in bond market dynamics as the 2-year Treasury yield, at 4.13 percent, has become the de facto anchor for the entire yield curve. They explain how the 2-year note's sensitivity to Federal Reserve policy and its role in pricing corporate bonds and mortgages make it more influential than the 10-year yield in the current environment. Using live data from June 12, 2026, they show how the 2-year yield is moving faster than the Fed's actual rate decisions and what that means for fixed-income investors. The hosts also discuss why this flips traditional bond market wisdom on its head, with implications for portfolio duration and hedging strategies. A must-listen for anyone navigating the 2026 bond market. #TreasuryYields #TwoYearNote #FederalReserve #BondMarket #FixedIncome #YieldCurve #Investing #Finance #FexingoBusiness #BusinessPodcast #MonetaryPolicy #InterestRates #Duration #CorporateBonds #MortgageBackedSecurities #PortfolioStrategy #MarketAnchors #2026Markets Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast with Fexingo, Lucas and Luna unpack why the 10-year Treasury yield is pinned near 4.55 percent, even as front-end rates stay anchored. They explore how the persistent term premium—the extra compensation investors demand for holding longer-dated debt—is reshaping fixed-income strategy. With the 30-year yield flirting with 5 percent and the 2-year yield hovering at 4.13, the hosts examine what the flattening curve signals about expectations for growth, inflation, and Fed policy. They also discuss how institutional investors are adjusting duration exposure and why the 'higher for longer' narrative is making duration risk more expensive than it's been in years. A must-listen for bond investors navigating the mid-2026 rate environment. #10YearYield #TreasuryYields #TermPremium #BondMarket #FixedIncome #DurationRisk #YieldCurve #FedPolicy #InflationExpectations #BondInvesting #LucasAndLuna #Fexingo #FexingoBusiness #BusinessPodcast #Finance #Bonds #InvestmentStrategy #Podcast Keep every episode free: buymeacoffee.com/fexingo

The 5-year Treasury note is often overlooked, but with the yield at 4.26% and the curve steepening, it's become the market's key battleground. Lucas and Luna explain why this maturity offers a rare combination of yield and convexity, how it signals rate expectations more cleanly than the 2-year or 10-year, and what the 5-year's spread over the 3-month tells us about recession odds. They also discuss how the 5-year note is drawing demand from foreign buyers and pension funds looking to lock in real yields. A focused look at one maturity that's quietly reshaping bond strategy in mid-2026. #BondInvesting #Treasuries #5YearNote #YieldCurve #FixedIncome #BondStrategy #Convexity #Finance #Investing #FexingoBusiness #BusinessPodcast #InterestRates #BondMarket #LucasAndLuna #Podcast #EconomicIndicators #PortfolioManagement #RealYields Keep every episode free: buymeacoffee.com/fexingo

With the 10-year Treasury yield stuck at 4.54 and the 30-year hovering near 5 percent, municipal bonds are offering investors a compelling alternative. In this episode, Lucas and Luna break down why munis are outperforming — thanks to a seasonal supply crunch, strong state tax revenues, and a yield ratio that now favors taxable-equivalent income. They dive into the mechanics of the muni-Treasury ratio, currently near 70 percent, and explain why high-income investors in states like California and New York are seeing after-tax yields that beat Treasuries by a full percentage point. They also discuss the risk of credit downgrades in certain local governments and why a barbell strategy of short-term munis plus long-term pre-refunded bonds might capture the opportunity without reaching for yield. If you've ever wondered why your advisor keeps mentioning munis, this episode gives you the concrete numbers and the strategic logic. #MunicipalBonds #Treasuries #TaxFreeIncome #YieldRatio #CaliforniaMunis #NewYorkMunis #BarbellStrategy #PreRefundedBonds #CreditRisk #PortfolioStrategy #June2026 #BondMarket #TaxEquivalentYield #MuniBonds #FexingoBusiness #BusinessPodcast #Finance #FixedIncome Keep every episode free: buymeacoffee.com/fexingo

On June 10, 2026, the 10-year Treasury yield sits at 4.53 percent, trapped between the Fed's rate floor and sticky inflation. Lucas and Luna unpack how a narrow trading range is reshaping bond strategy, why the 2-year yield is falling while the 10-year holds, and what the 40-basis-point spread tells us about recession risk. They discuss why investors are piling into the belly of the curve and how the 3-month yield at 3.80 percent is anchoring the front end. A focused look at one stubborn number—and what it means for portfolios right now. #10YearTreasury #BondStrategy #YieldCurve #FedPolicy #Inflation #TreasuryYields #Finance #BondInvesting #FixedIncome #Yield4.53 #SpreadAnalysis #RecessionSignal #InvestmentStrategy #Macro #MarketCommentary #FexingoBusiness #BusinessPodcast #June2026 Keep every episode free: buymeacoffee.com/fexingo

On this episode of The Bond Investing Podcast, Lucas and Luna explore why the 3-month Treasury yield has become the new anchor for the bond market in mid-2026. With the 10-year yield at 4.56% and the 3-month yield at 3.80%, the spread between them is widening in unexpected ways. They discuss how the front end is driving rate expectations, why the Fed's interest on reserve balances at 3.65% matters, and what this means for investors positioning in short-term vs. long-term bonds. Using live data from June 9, 2026, they break down the shifting yield curve dynamics and offer practical takeaways for bond investors navigating this environment. #ThreeMonthYield #TreasuryYield #BondMarket #YieldCurve #FedFundsRate #InterestOnReserves #ShortTermBonds #LongTermBonds #FixedIncome #BondInvesting #FexingoBusiness #BusinessPodcast #Finance #Investing #Macro #CentralBank #LucasAndLuna #BondStrategy Keep every episode free: buymeacoffee.com/fexingo

The 3-month Treasury yield has become the new anchor for the bond market, trading at 3.63 percent as of June 2026. In this episode, Lucas and Luna explore why this short-term rate matters more than the 10-year yield for understanding Fed policy and liquidity. They discuss how the front end is pricing in rate cuts that haven't happened yet, and what the flat 3-month tells us about the economy. With the 10-year at 4.55 and the 30-year approaching 5 percent, the yield curve is steepening in unexpected ways. The hosts also share how listener support through buy me a coffee dot com slash fexingo keeps the show ad-free and independent. #TreasuryYields #BondMarket #FederalReserve #ThreeMonthYield #YieldCurve #FixedIncome #MonetaryPolicy #TermPremium #Liquidity #CashIsKing #Investing #Finance #Business #FexingoBusiness #BusinessPodcast #BondPodcast #Treasuries #RateCuts Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna examine the 30-year Treasury yield crossing 5%—a level not sustained since 2011. They break down what this means for portfolio duration, the refinancing calculus for corporations and homeowners, and why long-duration bonds still offer compelling income despite price risk. Drawing on the June 5 data showing the 30-year at 5.01%, they explore whether this is a buying opportunity or a regime shift. Specific topics include the 10-year yield at 4.55%, the yield curve steepening to 41 basis points, and how TIPS are outperforming. Ideal for bond investors reassessing their long-term allocation in a higher-for-longer rate environment. #30YearYield #5Percent #Treasuries #BondStrategy #Duration #YieldCurve #TLT #TIPS #IncomeInvesting #FixedIncome #Finance #Business #FexingoBusiness #BusinessPodcast #BondInvesting #Podcast #LucasAndLuna #Fexingo Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a surprising trend in June 2026: the 3-month Treasury yield is anchoring the entire fixed-income market. With the 10-year at 4.47% and the 2-year at 4.05%, the short end is flattening faster than the long end. They explain why institutional investors are piling into T-bills, how the 3-month yield at 3.78% is reshaping liquidity strategies, and what this means for your bond portfolio. Plus, a quick look at how the Fed funds rate floor of 3.63% is keeping money market funds packed. A tight, specific episode for bond pros and yield hunters alike. #TreasuryYields #FrontEndBonds #3MonthYield #BondInvesting #FedFundsRate #YieldCurve #TBills #Liquidity #FixedIncome #June2026 #BondStrategy #MoneyMarkets #Finance #Investing #BondMarket #FexingoBusiness #BusinessPodcast #BondPodcast Keep every episode free: buymeacoffee.com/fexingo

The 30-year Treasury yield has touched 5 percent, a level not seen in decades. Lucas and Luna explore what that means for fixed-income investors — from pension funds to individual bondholders. They dissect the data: the long bond's yield has risen 20 basis points in a week while the 2-year stayed flat, pushing the curve steeper. They discuss why the 30-year matters more now than the 10-year, how it affects mortgage rates and corporate borrowing costs, and whether this is a buying opportunity or a warning sign. The hosts also examine the divergence between the 30-year and the Fed funds rate, and what it signals about inflation and fiscal risk. No fluff — just a clear, data-driven look at the bond market's biggest story this week. #30YearTreasury #Yield5Percent #BondMarket #FixedIncome #TreasuryYields #YieldCurve #SteepeningCurve #MortgageRates #CorporateBonds #PensionFunds #InflationExpectations #FiscalRisk #FedPolicy #RateHikes #BondInvesting #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna explore bond convexity — why it matters more in 2026 as yields hover near key levels. With the 10-year at 4.47% and the 30-year flirting with 5%, convexity is reshaping duration risk and hedging strategies. They break down how negative convexity in MBS and callable bonds surprises investors, and why the 2-10 spread at 38 basis points amplifies these effects. A must-listen for fixed-income pros navigating a flat curve. #BondConvexity #DurationRisk #NegativeConvexity #TreasuryYields #10YearYield #30YearYield #YieldCurve #FixedIncome #MBS #CallableBonds #Hedging #Finance #BondInvesting #FexingoBusiness #BusinessPodcast #Macro #PortfolioStrategy #RateRisk Keep every episode free: buymeacoffee.com/fexingo

Episode 35 dives into mortgage-backed securities, a corner of the bond market that's been quietly outperforming Treasuries in mid-2026. Lucas and Luna unpack why agency MBS spreads have tightened to post-2022 lows, how the Fed's runoff cap is creating a technical squeeze, and what this means for yield-hungry investors. With the 10-year Treasury around 4.47 and the 30-year near 5%, they ask whether MBS still offer enough compensation for prepayment risk. Specific numbers discussed: the current dollar roll premium in TBA contracts and the option-adjusted spread on current-coupon GNMA securities. #MBS #MortgageBackedSecurities #AgencyMBS #TBA #GNMA #FreddieMac #FannieMae #PrepaymentRisk #OptionAdjustedSpread #FedRunoff #QuantitativeTightening #TreasuryYields #10YearYield #30YearYield #YieldSpreads #FixedIncome #BondInvesting #FexingoBusiness Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna drill into a quiet but significant shift in the bond market: the 2-year Treasury yield fell from 4.08 to 4.05 in just one day, while the Fed funds rate has barely budged. They examine what this divergence means for rate-cut expectations, how the 2-year has become the market's own policy signal, and why the 10-year is not keeping pace. With the yield curve steepening and the 30-year nearing 5 percent, the hosts debate whether bonds are pricing in a different path than the Fed is projecting. A focused look at the front end of the curve and what it says about mid-2026. #BondMarket #TreasuryYields #2YearYield #FedPolicy #YieldCurve #RateCuts #FixedIncome #BondInvesting #LucasAndLuna #Fexingo #Finance #Investing #Macro #EconomicIndicators #Treasuries #MarketSignal #FOMC #BondStrategy Keep every episode free: buymeacoffee.com/fexingo

Episode 33 of The Bond Investing Podcast with Fexingo dives into the 5-year Treasury note, the often-overlooked maturity that connects short-term policy expectations with long-term growth. As of June 5, 2026, the 5-year yield sits at 4.28%, up 2.2% over the past week—outpacing the 2-year and 10-year. Lucas and Luna explore why this note has become the bond market's real-time temperature check, how it signals the market's view on the neutral rate, and what the recent flattening of the 5-year versus 30-year spread implies for economic growth. They reference the hot jobs report from June 5 and the Fed's current policy rate of 3.63% to frame why the 5-year matters now. Plus, a brief note on how listener support keeps the show ad-free via buy me a coffee dot com slash fexingo. #TreasuryNotes #FiveYearYield #BondMarket #FixedIncome #YieldCurve #FedPolicy #NeutralRate #EconomicGrowth #JobsReport #June2026 #Finance #Investing #BondETF #Liquidity #TreasuryYields #RateOutlook #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast, Lucas and Luna explore why the 3-month Treasury yield is becoming the most important rate in fixed income. With the yield at 3.78% and the Fed funds rate at 3.62%, the spread between them is tighter than it's been in years — and that has big implications for everything from money market funds to corporate bond spreads. They break down the mechanics of the front end of the curve, explain why the 3-month yield used to be ignored, and show how it's now acting as the real floor for risk-free returns. Specific data points anchor the conversation: the current 3-month yield, the IOER at 3.65%, and the 2-year yield at 4.08%. If you're a bond investor trying to understand where short-term rates are really headed, this episode gives you the framework. #BondInvesting #FixedIncome #TreasuryYields #3MonthTreasury #FedFunds #IOER #ShortTermRates #MoneyMarket #YieldCurve #BondStrategy #Finance #Macro #RateHike #Liquidity #PortfolioManagement #FexingoBusiness #BusinessPodcast #InvestmentStrategy Keep every episode free: buymeacoffee.com/fexingo

With the 30-year Treasury yield flirting with 5% and the 10-year hovering at 4.46%, inflation-protected bonds are gaining new fans. Lucas and Luna break down why TIPS are outperforming nominal Treasuries this year, how the 3.62% fed funds rate feeds into real yields, and what the TIPS breakeven rate is signaling about inflation expectations. They also discuss whether the TIPS market is getting crowded and how individual investors can add them without overcomplicating their portfolio. Plus: a quick note on how listener support keeps this show ad-free. #TIPS #TreasuryInflationProtectedSecurities #BondInvesting #FixedIncome #Inflation #RealYield #TreasuryBonds #FedFundsRate #BreakevenRate #PortfolioStrategy #Finance #BusinessPodcast #FexingoBusiness #LucasAndLuna #MarketUpdate #June2026 #InflationHedge #BondMarket Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into a quiet but telling divergence in the bond market as of June 2026: credit spreads are tightening even as the Fed holds rates at 3.63 percent and the 10-year yield sits at 4.46. With the Fed funds rate floor at 3.62 and the 2-year yield stuck at 4.05, the curve is signaling a slow economy, but corporate bond investors are acting like the coast is clear. They break down why spread compression often precedes a recession warning, how investment-grade and high-yield ETFs like LQD and HYG are trading near their five-day lows, and what the historical pattern from 2006 and 2019 tells us about this moment. A focused look at why bond investors should watch the gap between what the economy says and what spreads price in. #CreditSpreads #TreasuryYields #FederalReserve #CorporateBonds #BondETF #10YearYield #FedFundsRate #SpreadCompression #YieldCurve #BondInvesting #FixedIncome #LQD #HYG #RecessionSignal #Finance #FexingoBusiness #BusinessPodcast #BondMarket Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna break down a surprising trend in fixed income: corporate bond ETFs are outperforming individual corporate bonds on a risk-adjusted basis this year. With the Fed funds rate stuck at 3.63% and the 30-year yield flirting with 5%, investors are questioning which vehicle offers better liquidity, diversification, and total return. The hosts examine two real-world portfolios—one using the iShares iBoxx Investment Grade Corporate Bond ETF (LQD) and one built from individual bonds—to show how ETF structure is winning in 2026. They also touch on the liquidity paradox: ETFs trade more but may widen the bid-ask spread for underlying bonds. A must-listen for anyone rethinking their fixed-income allocation in a persistent-rate environment. #CorporateBondETFs #LQD #FixedIncome #BondInvesting #Liquidity #YieldCurve #FedFundsRate #30YearYield #InvestmentGradeBonds #PortfolioConstruction #BondMarket #ETFvsBond #Finance #FexingoBusiness #BusinessPodcast #BondStrategy #2026Markets #PassiveIncome Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dive into a surprising shift in the bond market: the 3-month Treasury yield has climbed above the Fed funds rate, effectively making the 'floor' of the yield curve higher than the policy rate. They explain why this inversion matters for money market funds, bank lending, and the curve normalization trade. Using current data—the 3-month yield at 3.78% vs. the Fed funds rate at 3.62%—they explore how this 'floor inversion' signals tight liquidity and could reshape fixed income allocation. A must-listen for bond investors wondering why short-term yields aren't falling with the Fed on hold. #TreasuryYields #FedFundsRate #YieldCurve #MoneyMarketFunds #Liquidity #BondInvesting #FexingoBusiness #BusinessPodcast #Finance #FixedIncome #ThreeMonthYield #ShortTermBonds #CurveInversion #MonetaryPolicy #CashManagement #RiskManagement #MacroEconomics #InvestmentStrategy Keep every episode free: buymeacoffee.com/fexingo

Episode 27 of The Bond Investing Podcast with Fexingo dives into the narrowing 2-10 year Treasury spread, which has compressed to 42 basis points as of June 2026. Lucas and Luna explore why the slope itself may be a more actionable signal than the absolute level of yields. They discuss how the flattening curve is influencing portfolio duration decisions, the role of the Fed funds rate floor at 3.63, and why short-duration bonds are still favored despite the 10-year holding at 4.45. Specific data from June 1 shows the 2-year yield jumped to 4.05 while the 10-year barely moved, tightening the spread from 47 basis points. The hosts also touch on the 3-month yield rising to 3.78 and what that means for cash alternatives. A fresh angle that avoids overlapping with prior episodes on specific maturities or liquidity. #BondInvesting #TreasurySpread #YieldCurve #2YearTreasury #10YearTreasury #FedFundsRate #DurationStrategy #FexingoBusiness #BusinessPodcast #Finance #FixedIncome #LucasAndLuna #ShortDurationBonds #CashAlternatives #BondMarket #June2026 #CurveFlattening #SpreadCompression Keep every episode free: buymeacoffee.com/fexingo

The 30-year Treasury yield is flirting with 5 percent again, hitting 4.99 as of late May 2026. Lucas and Luna dig into why long-duration bonds are under pressure, what it signals about inflation expectations and fiscal policy, and how bond investors should position portfolios. They contrast the 30-year with the 2-year yield at 3.98, highlighting the steepening yield curve. The hosts also discuss the impact on mortgage rates, pension funds, and the resurgence of TIPS as a hedge. A specific look at the long bond's role in today's macro environment. #30YearTreasury #TreasuryYields #BondMarket #YieldCurve #Inflation #FiscalPolicy #LongDuration #TIPS #MortgageRates #PensionFunds #FixedIncome #BondInvesting #FexingoBusiness #BusinessPodcast #Finance #Macro #SteepeningCurve #DurationRisk Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna examine why Treasury Inflation-Protected Securities (TIPS) are outperforming nominal Treasuries in mid-2026, even as headline CPI moderates. They break down the mechanics of breakeven inflation rates, explain why the five-year TIPS yield has turned positive for the first time since 2019, and discuss how real yields are driving demand from pension funds and foreign investors. With the 10-year nominal yield stuck at 4.45 percent and inflation breakevens at 2.4 percent, the episode explores whether TIPS are a smart hedge or a crowded trade. Specific data points include the recent five-year TIPS auction that drew a bid-to-cover ratio above 2.5, and the implications for retail investors building a laddered bond portfolio. #TIPS #TreasuryInflationProtectedSecurities #BondInvesting #FixedIncome #Inflation #RealYields #BreakevenRate #FederalReserve #PortfolioStrategy #PensionFunds #ForeignInvestors #LadderedPortfolio #NominalBonds #FiveYearTreasury #Finance #Investing #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

This week the 10-year Treasury yield dipped to 4.45 percent, down from 4.48, while the 30-year yield sits at 4.98 percent and the 2-year at 3.99. Lucas and Luna dig into what this flattening yield curve means for bond investors, focusing on whether the long end has found a ceiling. They unpack the role of foreign buyers, especially Japanese institutions, and how the shrinking yield premium over the 3-month T-bill is compressing term premiums. The conversation lands on a concrete strategy: extending duration cautiously while the curve is this flat, and why the risk-reward now tilts toward longer maturities. Specific data points include the IORB rate at 3.65 and the Fed funds rate at 3.62, both acting as an anchor on the short end. The hosts also discuss the recent Berkshire-Taylor Morrison deal as a signal that institutional capital is rotating into real assets partly because bonds still don't offer enough yield to compensate for duration risk. If the 10-year holds 4.45 and the 30-year fails to breach 5%, the narrative shifts from 'higher for longer' to 'peak yields may be behind us.' #TreasuryYield #10YearYield #YieldCurve #BondStrategy #FixedIncome #TermPremium #ForeignBuyers #Japan #BerkshireHathaway #TaylorMorrison #FedFundsRate #IORB #Duration #FexingoBusiness #FinancePodcast #BusinessPodcast #BondInvesting #Macro Keep every episode free: buymeacoffee.com/fexingo

Episode 23 of The Bond Investing Podcast with Fexingo dives into the 3-year Treasury yield, a maturity that often flies under the radar. Lucas and Luna explain why the 3-year has become a stealth signal for rate expectations, especially as the yield curve steepens and the Fed holds the funds rate flat. Using current data — with the 3-year at 3.88% and the 10-year at 4.45% — they show how this mid-maturity point gives a cleaner read on the market's view of the next Fed move than the 2-year or 5-year. They discuss how it factors into corporate bond issuance, the rise of 3-year note futures, and what a steepening curve from the 3-year outward tells us about the soft landing narrative. A must-listen for fixed-income investors looking beyond the usual benchmarks. #ThreeYearTreasury #BondInvesting #TreasuryYields #YieldCurve #FedPolicy #SoftLanding #FixedIncome #CorporateBonds #LucasAndLuna #BondMarket #InterestRates #SteepeningCurve #MidMaturity #TreasuryNotes #InvestmentStrategy #FexingoBusiness #Finance #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dive into the often-overlooked 3-year Treasury yield, which has become a key signal for bond investors navigating the inverted yield curve in May 2026. With the 3-year yield at 3.99%—nearly matching the 2-year—and the 10-year at 4.45%, the episode explores how this part of the curve is flashing a subtle recession warning. They discuss why the 3-year's correlation with Fed rate expectations and its role in corporate bond pricing make it a critical anchor for fixed-income strategy. Lucas breaks down the history of the 3-year as a bellwether, citing the 2006 inversion, and explains how current spreads between the 3-year and 10-year are signaling market distrust of long-term growth. Luna pushes back on whether this is just noise or a genuine shift, and they examine data on corporate bond issuance and ETF flows into intermediate-duration funds like IEF. The episode includes a brief, topic-tied appeal for listener support at buy me a coffee dot com slash fexingo, then closes with a forward-looking question about yield curve normalization. #3YearTreasury #YieldCurve #BondMarket #TreasuryYields #FixedIncome #Inversion #FedPolicy #BondInvesting #Macro #RecessionSignals #CorporateBonds #IEF #Duration #InvestmentStrategy #Finance #FexingoBusiness #BusinessPodcast #May2026 Keep every episode free: buymeacoffee.com/fexingo

With over $2.6 billion flowing into the NASA ETF in two months, bond ETF liquidity is under the microscope. Lucas and Luna explore how the ETF structure masks true liquidity risk in fixed income markets. Using the 10-year Treasury yield at 4.45% and the narrowing spread between investment-grade and high-yield ETFs, they explain why the bid-ask spread on a bond ETF can widen faster than you think. They dissect a recent liquidity event in the LQD, the iShares iBoxx Investment Grade Corporate Bond ETF, and what it means for retail investors. The conversation digs into the mechanics of creation/redemption, the role of authorized participants, and why a 0.9% weekly gain in LQD might not tell the full story. No clickbait—just a clear-eyed look at a structural shift in how bonds trade. #BondETF #LiquidityRisk #FixedIncome #TreasuryYield #CorporateBonds #InvestmentGrade #HighYield #LQD #ETFStructure #AuthorizedParticipants #BidAskSpread #MarketDepth #NASAETF #SpaceX #RetailInvesting #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast, Lucas and Luna explore how the interest on reserve balances (IORB) rate is quietly shaping fixed-income strategy in May 2026. With the fed funds effective rate anchored at 3.64 percent and short-term Treasury yields hovering nearby, the hosts explain why this technical floor matters more than most retail investors realize. Drawing on current yield data—including a 2-year yield of 3.99 percent and a 10-year at 4.45 percent—they discuss how the IORB influences money market fund flows, repo rates, and bond portfolio positioning. Lucas highlights how a recent Fed Governor's warning against hiking rates adds nuance to the floor debate. Luna challenges whether individual investors should care about a rate they can't access. The episode also covers practical implications for ladder strategies, floating rate notes, and the steepening yield curve. A concrete look at the plumbing behind your bond returns. #InterestOnReserveBalances #FedFundsRate #BondMarketPlumbing #FixedIncomeStrategy #TreasuryYields #MoneyMarketFunds #ShortDurationBonds #FloatingRateNotes #YieldCurveSteepening #IORB #MichelleBowman #FedPolicy #BondLadder #Finance #FexingoBusiness #BusinessPodcast #TheBondInvestingPodcast #LucasAndLuna Keep every episode free: buymeacoffee.com/fexingo

Episode 19 of The Bond Investing Podcast: Lucas and Luna explore a critical but often overlooked dimension of fixed income: market depth and liquidity. With the 10-year Treasury yield at 4.45% and the 30-year flirting with 5%, many investors are fixated on yield levels. But Lucas argues that a deeper bond market—measured by bid-ask spreads, order book size, and dealer capacity—can matter more for total returns than yield alone. They examine the 2023 Treasury liquidity crisis, how regulatory changes have reshaped dealer balance sheets, and what the 2026 market structure means for institutional and retail bond investors. Drawing on current data like the recent 5-day rally in long-duration ETFs (TLT up 1.3%) and persistent tight spreads in corporate bonds (LQD up 0.9%), the hosts explain why focusing solely on yield can be a trap. Luna asks the tough question: what should a listener actually do about it? The answer: favor on-the-run issues, use limit orders, and watch the SOFR-Treasury basis. No ads, just smart bond talk. #BondMarketDepth #MarketLiquidity #TreasuryYields #FixedIncome #InvestmentGrade #BondETFs #TLT #IEF #LQD #HYG #FedPolicy #SOFR #YieldCurve #TradingStrategy #Finance #Investing #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna unpack a growing stress point in fixed-income markets: declining liquidity in corporate bond trading. With the 10-year Treasury at 4.45% and credit spreads tight, the ease of buying and selling bonds has quietly deteriorated. They examine what's behind the shift — from dealer balance sheet constraints to the rise of electronic trading — and how it's reshaping execution strategy for institutional and retail investors alike. Specific data on bid-ask spreads and trading volumes grounds the conversation. The hosts also explore how ETFs are both a symptom and a solution. A practical, numbers-driven look at a structural change most bond investors can't afford to ignore. #BondLiquidity #CorporateBonds #FixedIncome #Treasuries #CreditSpreads #BidAskSpread #ETFs #DealerBalanceSheets #ElectronicTrading #InvestmentGrade #HighYield #MarketStructure #PortfolioStrategy #LiquidityRisk #FexingoBusiness #BusinessPodcast #Finance #BondInvesting Keep every episode free: buymeacoffee.com/fexingo

In this episode of The Bond Investing Podcast, Lucas and Luna explore how the Fed funds rate—currently at 3.64 percent—serves as the foundation for every bond yield from 3-month T-bills to 30-year Treasuries. With the 2-year yield at 4.00 percent and the 10-year at 4.48 percent, the spread between short and long rates tells a story about market expectations for monetary policy. The hosts break down the mechanics of rate anchoring, why the 2-year yield closely tracks the Fed funds rate, and what a steepening yield curve implies for bond investors today. Using live data from May 28, 2026, they explain how a flat Fed funds rate combined with falling longer-term yields signals a potential shift in the economic outlook. Whether you're a fixed-income beginner or a seasoned portfolio manager, understanding the Fed funds anchor is essential for navigating Treasury, corporate, and mortgage-backed securities. #FedFundsRate #MonetaryPolicy #BondMarket #TreasuryYields #YieldCurve #FixedIncome #CentralBank #InterestRates #Investing #Bonds #Finance #Business #FexingoBusiness #BusinessPodcast #BondInvesting #RateAnchoring #ShortTermRates #LongTermRates Keep every episode free: buymeacoffee.com/fexingo

The 30-year Treasury yield hit 5.01 percent this week, its highest level since 2023. Lucas and Luna unpack what's driving long-duration bonds lower, how the steepening yield curve changes strategy for retirement portfolios, and why pension funds are shifting allocations. They discuss the role of foreign buyers, the Fed's hold on short rates, and whether the long bond is a buy or a trap right now. Specific data points: the 30-year at 5.01, the 10-year at 4.50, and the 2-year at 4.01, with the spread at 48 basis points. #30YearTreasury #LongBond #YieldCurve #TreasuryYields #FixedIncome #BondInvesting #PensionFunds #DurationRisk #FederalReserve #InterestRates #PortfolioStrategy #RetirementPlanning #Finance #Investing #BondMarket #FexingoBusiness #BusinessPodcast #BondPodcast Keep every episode free: buymeacoffee.com/fexingo

Lucas and Luna dig into the bond market's most underrated signal right now: inflation breakevens. With the 10-year Treasury yield at 4.50 percent and the 30-year pushing above 5 percent, the gap between nominal yields and TIPS yields tells a story about what investors really expect from inflation over the next decade. Lucas brings data on how breakevens have moved in May 2026 and why the market is pricing in a 'higher-for-longer' inflation regime even as the Fed holds rates flat. Luna presses on whether this is a soft-landing signal or a warning that the bond market has lost faith in the Fed's inflation fight. They also touch on the 10-year-2-year spread at 49 basis points—still positively sloped—and what that means for portfolio duration decisions. If you hold bonds or own a target-date fund, this episode shows you a metric most outlets ignore. #InflationBreakevens #TIPS #TreasuryYields #BondMarket #FedPolicy #RealYields #DurationStrategy #YieldCurve #FixedIncome #May2026 #LucasAndLuna #FexingoBusiness #BusinessPodcast #Finance #Investing #Macro #CentralBanks #PortfolioManagement Keep every episode free: buymeacoffee.com/fexingo

Episode 14 of The Bond Investing Podcast dives into how the rise of bond ETFs is changing the way institutional and retail investors trade fixed income. Lucas and Luna examine the liquidity shift from individual bonds to ETF baskets, using the recent rally in TLT and LQD as a case study. They discuss how ETF creation-redemption mechanisms are compressing bid-ask spreads and altering price discovery in Treasuries and corporates. The episode references specific data points: TLT up 2.5% in five days, LQD gaining 1.5%, and the 30-year yield dropping to 5.07%. With bond ETFs now accounting for over 30% of daily trading volume in some sectors, the hosts explore whether this trend is democratizing access or introducing new fragility. A must-listen for fixed-income investors trying to understand the structural shift under their feet. #BondETFs #FixedIncome #TLT #LQD #Treasuries #CorporateBonds #ETFLiquidity #YieldCurve #PassiveInvesting #BondMarketStructure #LucasAndLuna #FexingoBusiness #BusinessPodcast #FinancePodcast #Investing #BondInvesting #MarketLiquidity #ETFTrading Keep every episode free: buymeacoffee.com/fexingo

The 2-year Treasury yield has been creeping up relative to the 10-year, and the spread has narrowed from 49 basis points to 43 basis points in just a few days. Lucas and Luna unpack why the short end of the curve has become the dominant signal for rate expectations, what the Fed's next move looks like, and how bond investors should adjust duration positioning. They also discuss the impact of a potential oil shock from the Strait of Hormuz closure and what it means for inflation expectations in the bond market. If you've been watching the 10-year yield and ignoring the 2-year, this episode will change your focus. #2YearTreasury #YieldCurve #BondInvesting #FedPolicy #ShortDuration #TreasuryYields #InterestRates #Inflation #OilShock #StraitOfHormuz #PiperSandler #DurationStrategy #FexingoBusiness #Finance #BusinessPodcast #BondMarket #Macro #FixedIncome Keep every episode free: buymeacoffee.com/fexingo

Episode 12 of The Bond Investing Podcast with Fexingo: Treasuries, Corporate Bonds, and Fixed Income Strategy. Lucas and Luna dig into a shift that's easy to overlook when everyone's watching the 10-year: the 3-month Treasury yield has crept up to 3.68 percent, the highest level since late 2023, while the rest of the curve has been rallying. They unpack what this means for money market funds, cash allocation, and the Federal Reserve's next move — and why a steepening curve from the short end signals something different than a steepening from the long end. With the 10-year at 4.57 percent and the 30-year at 5.10 percent, the hosts walk through a specific trade idea using 2-year versus 3-month Treasury ETFs, and why investors sitting in cash may be missing a rotation into intermediate maturities. No hot takes. Just the mechanics. #TreasuryYields #ThreeMonthYield #BondStrategy #FederalReserve #MoneyMarketFunds #CashAllocation #YieldCurve #SteepeningCurve #ShortEnd #BondInvesting #FixedIncome #TreasuryETFs #InterestRates #Finance #FexingoBusiness #BusinessPodcast #LucasAndLuna #BondMarket2026 Keep every episode free: buymeacoffee.com/fexingo

With the Fed holding rates steady at 3.64 percent but the market pricing potential cuts, bond investors face a classic dilemma: lock in yields now or stay flexible. In this episode, Lucas and Luna drill into floating rate notes — FRNs — as a middle path. They walk through how FRNs reset their coupon based on SOFR, why the 2-year Treasury yield rising to 4.08 percent while the 10-year stays flat creates an unusual opportunity, and where corporate FRNs offer a spread pickup over Treasuries without duration risk. The hosts compare current FRN yields against the Bloomberg FRN index to show the math, and they flag one risk most retail investors miss: the cap structure on some new issues. Whether you are a retired income seeker or a pension fund manager, this episode gives you one concrete tool you have not heard in the other ten episodes. #FloatingRateNotes #FRNs #Treasuries #FixedIncome #BondInvesting #SOFR #YieldCurve #FederalReserve #InterestRates #DurationRisk #CorporateBonds #IncomeInvesting #FexingoBusiness #BusinessPodcast #Finance #InvestingStrategy #BondMarket #2026Markets Keep every episode free: buymeacoffee.com/fexingo