Code-switching (CSW) is commonly observed among bilingual speakers, and is motivated by various paralinguistic, syntactic, and morphological aspects of conversation. We build on prior work by asking: how do discourse-level aspects of dialogue – i.e. the content and function of speech – influence patterns of CSW? To answer this, we analyze the named entities and dialogue acts present in a Spanish-English spontaneous speech corpus, and build a predictive model of CSW based on our statistical findings. We show that discourse content and function interact with patterns of CSW to varying degrees, with a stronger influence from function overall. Our work is the first to take a discourse-sensitive approach to understanding the pragmatic and referential cues of bilingual speech and has potential applications in improving the prediction, recognition, and synthesis of code-switched speech that is grounded in authentic aspects of multilingual discourse.