Yeah, like that did any good for Japan. (Markets down -50% from their high from 30 years ago... in spite of the BOJ having bought/owning 80% of their entire ETF market.)
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Market Trying To Celebrate Fed's Buying Of ETFs...
- Thread starter Scataphagos
- Start date
Interesting how this news is literally a non event for the markets today. Aside from that the fed has plenty of more tricks ready to go if this equity sell off resumes its downward trend after a steady gigantic run the last month. Fed will initiate trillions
more to backstop any equity sell off ....
more to backstop any equity sell off ....
Where was it announced that they can do it now?
It's gonna be the most expensive rally in history. The rally that bankrupted America.
The news is that the FED is able to buy Corporate Bond ETFs, not equity ETFs.
"The PMCCF will provide companies access to credit by (i) purchasing qualifying bonds as the sole investor in a bond issuance, or (ii) purchasing portions of syndicated loans or bonds at issuance. The SMCCF may purchase in the secondary market (i) corporate bonds issued by investment-grade U.S. companies; (ii) corporate bonds issued by companies that were investment-grade rated as of March 22, 2020, and that remain rated at least BB-/Ba3 at the time of purchase; (iii) U.S.-listed ETFs whose investment objective is to provide broad exposure to the market for U.S. investment-grade corporate bonds; and (iv) U.S.-listed ETFs whose primary investment objective is exposure to U.S. high-yield corporate bonds."
"The PMCCF will provide companies access to credit by (i) purchasing qualifying bonds as the sole investor in a bond issuance, or (ii) purchasing portions of syndicated loans or bonds at issuance. The SMCCF may purchase in the secondary market (i) corporate bonds issued by investment-grade U.S. companies; (ii) corporate bonds issued by companies that were investment-grade rated as of March 22, 2020, and that remain rated at least BB-/Ba3 at the time of purchase; (iii) U.S.-listed ETFs whose investment objective is to provide broad exposure to the market for U.S. investment-grade corporate bonds; and (iv) U.S.-listed ETFs whose primary investment objective is exposure to U.S. high-yield corporate bonds."
oh, I'm reassured of having junk debt nationalized in that case.
^^ agree, trivia related - for a split second that brought back memories of the Ginnie Mae, Fannie Mae & Freddie mac.