BondBloxx ETFs is confident in private credit despite Wall Street fears of a meltdown. Co-founder Joanna Gallegos says their approach offers immense diversification with exposure to over 7,000 loans. The BondBloxx Private Credit CLO ETF, launched in December 2024, is up 7% since inception and 2% over the past three months.

Gallegos emphasizes the attractiveness of private credit yields due to the increasing number of private companies. Strategas Securities’ Todd Sohn notes that credit spreads are at multi-decade lows, but he is wary of a potential credit event. He believes any issues in private credit could pose a significant risk to the financial system.

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2. Facebook reports a 56% increase in quarterly revenue, surpassing expectations. The social media giant sees growth across all regions and expects continued success in the coming quarters. Facebook also announces plans to invest in new technology and content.

3. Amazon’s second-quarter earnings beat expectations, with revenue reaching $113.1 billion. The e-commerce giant credits strong sales in its cloud computing and advertising businesses for the positive results. Amazon also announces plans to hire 55,000 new employees globally.

4. Tesla announces plans to open its first factory in India, aiming to tap into the country’s growing demand for electric vehicles. The factory will produce both cars and batteries, marking a significant step in Tesla’s expansion into the Indian market.: Private credit meltdown fears: Why BondBloxx isn’t worried