Dr. JoAnne Feeney, Partner and Portfolio Manager at Advisors Capital Management, joined CNBC to discuss how the AI infrastructure build-out is affecting corporate bond markets, credit spreads, and investor demand for fixed income. She explained why bond investors may remain receptive to debt issuance from well-capitalized technology companies, while emphasizing the importance of being highly selective in today’s tight credit environment.
Interview Date: July 26, 2026
Key Takeaways
AI-related debt demand remains strong: Feeney noted that the bond market appears willing to finance investment-grade issuers tied to the AI build-out, particularly companies with strong cash flow and flexibility around capital spending.
Selectivity is critical in tight credit markets: With credit spreads narrow, Feeney emphasized that investors need to be discerning and avoid taking on too much additional risk for limited incremental return.
Fixed income continues to offer value: Feeney highlighted strong demand for bonds from investors seeking income, especially as yields remain meaningfully positive relative to long-term inflation.
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