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How Big Tech's Bond Spree and Rising US Debt Are Creating Risks and Opportunities May 08, 2026

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Is a global debt emergency on the horizon?

Big Tech’s bond-issuing spree is helping to pay for its massive artificial intelligence buildout. And it’s not expected to slow down this year. Meanwhile, the US federal deficit has swelled to about $39 trillion, according to the US Treasury Department. That’s raising red flags about the potential impact on the Treasuries market. Government and corporate debt are growing but for different reasons. How should investors think about it?

Dominic Pappalardo is the chief multi-asset strategist for Morningstar Wealth. It’s part of registered investment advisor, Morningstar Investment Management.

Why Bonds Still Have Long-Term Appeal Despite Recent Wobbles

On this episode:

00:00:00 Welcome

00:01:29 Big Tech's AI bond-issuing spree explained

00:03:51 What's driving the US federal deficit higher

00:06:04 Calls to prepare for a bond market emergency

00:07:38 Government vs. corporate debt key differences

00:08:45 Potential risks lurking in today's bond market

00:10:33 Bond portfolio opportunities and investor takeaways

Watch more from Morningstar:

10 Exceptional Stocks With Double-Digit Dividend Raises

Investors May Be Ignoring Big Market Disruptions. Is There Risk to the Rebuff?

Vanguard Wrote the Playbook for Success. Now, It Must Evolve to Stay on Top

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10 Exceptional Stocks With Double-Digit Dividend Raises May 01, 2026

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A rare group of dividend-paying stocks are standing out for their exceptional qualities. They’ve racked up five straight years of dividend growth of 10% or more. And they’ve passed several rigorous checks. Morningstar’s DividendInvestor newsletter editor David Harrell dug into the data to identify this year’s class of Dividend Growers.

Subscribe to Morningstar’s DividendInvestor newsletter.

On this episode:

00:00:00 Welcome

00:01:08 Dividend Growers qualifications and key caveats

00:03:17 How the 2026 Dividend Growers list changed from last year

00:04:11 Meet the three newcomers: Intuit, Motorola Solutions, and TJX

00:05:43 Near-miss stocks and why the group’s average yields run higher

00:08:19 Who dividend growth stocks suit

00:11:13 Which 2026 Dividend Growers look undervalued now

Watch more from Morningstar:

Investors May Be Ignoring Big Market Disruptions. Is There Risk to the Rebuff?

Vanguard Wrote the Playbook for Success. Now, It Must Evolve to Stay on Top

Vanguard Is Entering a New Era. Can It Keep Winning for Another 50 Years?

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Investors May Be Ignoring Big Market Disruptions. Is There Risk to the Rebuff? Apr 24, 2026

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What’s fueling Wall Street’s optimism? While geopolitical tensions between the US and Iran are dominating headlines, US stocks recently hit an all-time high. The global oil shock is just one major disruption to rattle investors before receding this year. The enthusiasm for the artificial intelligence boom also waned in early 2026. So, what should investors make of the market’s fluctuating mood? Tom Lauricella is the global markets editor for Morningstar Inc. and the editor of Smart Investor newsletter.

What War? US Stocks Hit Record Highs

On this episode:

00:00:00 Welcome

00:01:20 Markets’ Response to the Iran War

00:02:40 Why Stocks Hit Record Highs Despite the Oil Shock

00:04:50 Earnings Season and Investor Sentiment

00:05:49 Big Tech Crosswinds and the Bond Market

00:09:04 Concerns About Private Credit Markets

00:11:07 Inflation, the Fed, and Leadership Transition

Watch more from Morningstar:

Vanguard Wrote the Playbook for Success. Now, It Must Evolve to Stay on Top

Vanguard Is Entering a New Era. Can It Keep Winning for Another 50 Years?

These 8 Funds Could Help Steady Portfolios During Rough Markets

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Vanguard Wrote the Playbook for Success. Now, It Must Evolve to Stay on Top Apr 17, 2026

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Vanguard redefined investor-first for the better, and it’s aiming to maintain that reputation. Vanguard revolutionized passive investing when it created the first retail index fund. The behemoth asset manager continues to attract swells of everyday investors and money with headline-making fee cuts that put pressure on rivals to follow suit. But Vanguard is also seeking to develop an edge in new areas. It’s going full force on active bond ETFs, for example, and creating a target-date trust series to provide retirees the security of a predictable income. This week’s episode is the second of a two-part series examining what’s going on with Vanguard in 2026. Dan Sotiroff, associate director of US passive strategies research for Morningstar, covers Vanguard.

Vanguard Is Entering a New Era. Can It Keep Winning for Another 50 Years?

On this episode:

00:00:00 Welcome

00:01:40 Vanguard's Growth: Challenges of Doubling Its Client Base

00:03:28 Vanguard's Evolving Leadership

00:06:15 Fund Fee Cuts and Revenue Impact

00:10:17 Target-Date Fund Series With TIAA to Offer Guaranteed Income

00:12:04 Combining Public and Private Assets in Multi-Asset Investments With Wellington and Blackstone

00:14:39 Active Fixed-Income Push and Two New High-Yield Bond ETFs

00:19:51 Vanguard's Top Priorities for 2026

Watch more from Morningstar:

Vanguard Is Entering a New Era. Can It Keep Winning for Another 50 Years?
These 8 Funds Could Help Steady Portfolios During Rough Markets

Why Bond Funds Benefit from Active Management

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Vanguard Is Entering a New Era. Can It Keep Winning for Another 50 Years? Apr 10, 2026

Show notes

Will Vanguard’s next 50 years live up to its first half century? The popular investment firm counts millions of everyday investors among its clients. Vanguard CEO Salim Ramji joined the firm from its rival, BlackRock. Ramji is influencing Vanguard’s direction while keeping the overall mission intact. But the company continues to evolve under the new leadership, with a greater emphasis on advice and the launch of new funds. This episode is the first of a two-part series examining what’s going on with Vanguard in 2026. Dan Sotiroff, Vanguard analyst and the associate director of US passive strategies research for Morningstar, joined Investing Insights.

Vanguard Investors Cleaned Up https://www.morningstar.com/funds/vanguard-investors-cleaned-up

On this episode:

00:00:00 Welcome

00:01:28 Vanguard’s New Era Under CEO Salim Ramji

00:02:56 Vanguard Splits Into Two Investment Advisors

00:07:17 Analyst’s Thoughts on the Firm’s SEC Scrutiny and Fine

00:10:03 Seeking ETF Share Class Approval for Active Funds

00:12:01 New Active Equity ETFs and Coverage Outlook

Watch more from Morningstar:

These 8 Funds Could Help Steady Portfolios During Rough Markets

Why Bond Funds Benefit from Active Management

These Top Tech Stocks Can Stand Up to AI Risks

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These 8 Funds Could Help Steady Portfolios During Rough Markets Apr 03, 2026

Show notes

Too many funds and stocks in a portfolio can create clutter and make rebalancing time-consuming. Allocation funds such as balanced funds can make it easier to stay diversified and invested during market volatility. That’s because these funds automatically rebalance, moderating big gains and losses. And the funds can provide exposure to more than one security type and market. Russ Kinnel, senior principal of ratings for Morningstar and editor of Morningstar FundInvestor newsletter, discusses his list of the best balanced and allocation funds.

Subscribe to Morningstar FundInvestor newsletter.

On this episode:

00:00:00 Welcome

00:00:48 Balanced funds and market volatility

00:01:18 Who allocation funds are designed for

00:03:30 Foreign exposure in Vanguard Global Wellesley Income fund

00:04:40 Dividend income focus at Vanguard Global Wellington and American Funds Capital Income Builder funds

00:05:22 Inflation‑protection strategies in Pimco and T. Rowe Price funds

00:07:45 Key takeaways on balanced and allocation funds

Watch more from Morningstar:

Why Bond Funds Benefit from Active Management

These Top Tech Stocks Can Stand Up to AI Risks

2 Cautionary Tales from Private Equity and Private Credit Markets

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Why Bond Funds Benefit from Active Management Mar 27, 2026

Show notes

Active management can still win in the bond market. Opportunities abound for active managers to best their passive peers and benchmarks. And here’s why: they have access to tools, asset classes, and flexibility that their competition does not. Right now, the bond market is ripe for them to succeed. A deep dive in Morningstar Magazine’s first quarter 2026 issue makes the case why everyday investors should consider adding active bond funds to their portfolio. Eric Jacobson, senior principal of fixed-income strategies for Morningstar, and Maciej Kowara, principal of fixed income strategies for Morningstar, co-authored the article.

Subscribe to Morningstar Magazine to read independent investment research for free.

On this episode:

00:00:00 Welcome

00:01:33 Why Active Management Still Works in Bonds

00:02:25 Who Trades in the Bond Market

00:03:18 Finding Inefficiencies in Fixed Income

00:04:26 When Passive Bond Funds Can Hurt Investors

00:06:01 How to Spot a Good Active Bond Fund

00:08:10 What Gives Active Managers an Edge

Watch more from Morningstar:

These Top Tech Stocks Can Stand Up to AI Risks

2 Cautionary Tales from Private Equity and Private Credit Markets

Are You Ready for Tax Day? Here’s What You Need to Know Before You File

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These Top Tech Stocks Can Stand Up to AI Risks Mar 20, 2026

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The stock market has cooled on stocks caught up in the whirlwind of artificial intelligence. Fears over whether AI will disrupt a variety of sectors have triggered big sell-offs. Morningstar equity analysts have investigated 132 companies to determine whether that’s the case. They have concluded that AI is not a universal destroyer. The team thinks investors should sort through the wreckage and find newly cheap companies with enduring competitive advantages. Eric Compton, director of equity research for the technology sector at Morningstar, tells you where to look.

Moat Ratings Guidebook Amid AI Disruption

On this episode:

00:00:00 Welcome

00:01:28 What are Moats, and How Does Morningstar Use Them?

00:04:11 In-Depth Analyst Review of 132 Companies

00:06:27 Why Cybersecurity Holds Up

00:10:02 Why Design Software Looks Resilient

00:13:10 How Financial Data Benefits From AI

00:15:32 Finding Opportunity After AI Selloffs

Watch more from Morningstar:

2 Cautionary Tales from Private Equity and Private Credit Markets

Are You Ready for Tax Day? Here’s What You Need to Know Before You File

Avoid This IRA Distribution Error to Protect Your Retirement Cash

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2 Cautionary Tales from Private Equity and Private Credit Markets Mar 13, 2026

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Two high-profile cases in the public/private markets are testing boundaries and investors.

According to publicly available information, ERShares Private-Public Crossover ETF’s XOVR stake in illiquid holdings, including SpaceX, has apparently exceeded the SEC’s 15% threshold set forth in SEC Rule 22e-4. Morningstar refers readers to the text of the rule to understand the implications of this development.

But first, let’s start with ERShares’ saga. Morningstar’s Managing Director of Manager Research Jeff Ptak has been tracking the firm and its crossover fund.

Lessons From a Private Markets Bust: Why This ETF’s Investors Missed Out on SpaceX Gains

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On this episode:

00:00:00 Welcome [This part of the episode includes a clarification: According to publicly available information, ERShares Private-Public Crossover ETF’s XOVR stake in illiquid holdings, including SpaceX, has apparently exceeded the SEC’s 15% threshold set forth in SEC Rule 22e-4. Morningstar refers readers to the text of the rule to understand the implications of this development.]

00:01:24 How XOVR ETF Differs From Typical ETFs

00:02:11 XOVR ETF Performance Versus Broader Stock Market

00:02:48 Why XOVR’s SpaceX Stake Swung Sharply

00:09:56 Blue Owl Capital’s Origins and Current Problems

00:13:25 Who Invests in Blue Owl’s Direct Lending Funds

00:18:09 Investor Lessons From Blue Owl’s Redemption Halt

Watch more from Morningstar:

Are You Ready for Tax Day? Here’s What You Need to Know Before You File

Avoid This IRA Distribution Error to Protect Your Retirement Cash

Elevate Your 60/40 Portfolio With These Simple Tweaks

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Are You Ready for Tax Day? Here’s What You Need to Know Before You File Mar 06, 2026

Show notes

Tax day is quickly approaching, and it’s time to get organized. New tax rules might make it worth your while to itemize rather than take the standard deduction this year. And don’t just file away your 1099 forms—they can offer valuable insight into your portfolio’s tax efficiency. Christine Benz, Morningstar’s director of personal finance and retirement planning, discusses what you need to consider before, and after, you file.

Morningstar’s Tax-Planning and IRA Resources for 2026

On this episode:

00:00:00 Welcome

00:01:15 The "Procrastination Penalty" of Last-Minute IRA and HSA Contributions

00:02:35 How to Decide Whether to Itemize or Claim the Standard Deduction

00:04:18 Tips for Itemizing

00:05:37 Other Deductions You May Qualify For

00:07:45 Insights from Your 1099 Forms: Dividends

00:10:40 Insights from Your 1099 Forms: Capital Gains

00:09:39 Insights from Your 1099 Forms: Tax-Exempt Interest

00:12:35 How to Avoid Overpaying Your Taxes

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