Markets

Fed’s Powell says bank’s corporate-credit ETF purchases will give way to individual bond buying

The Federal Reserve’s corporate-credit relief will move from exchange-traded fund purchases to taking in individual bonds, chairman Jerome Powell said Wednesday. Targeted bond purchases are “a better tool for supporting liquidity and market functioning,” Powell told the House Financial Services Committee. The statement follows the central bank announcing Monday it […]
Fed’s Powell says bank’s corporate-credit ETF purchases will give way to individual bond buying
Markets

The Fed begins purchases of up to $250 billion in individual corporate bonds

The Federal Reserve announced Monday it will begin purchases of individual corporate bonds. The move comes nearly three months after first unveiling the Secondary Market Corporate Credit facility and one month after it began buying corporate-credit ETFs through the program. The central bank will “create a corporate bond portfolio that […]
The Fed begins purchases of up to $250 billion in individual corporate bonds
Markets

US investment-grade debt issuance tops $1 trillion on back of Fed purchases

US investment-grade bond issuance topped $US1 trillion on Tuesday as the corporate-credit market rebounds from March lows. High-grade issuance on Tuesday reached $US11.2 billion across 11 deals, Bank of America strategists said in a note. Year-to-date bond offerings trounce last year’s pace, as companies issued roughly $US1.14 trillion in investment-grade […]
US investment-grade debt issuance tops $1 trillion on back of Fed purchases
Markets

UBS outlines an ‘enormous opportunity’ to buy up high-quality stocks and bonds following a sharp sell-off in recent weeks

Weeks of widespread selling and credit stress leave some assets primed for outsized gains, UBS said Monday. Stock sell-offs saw equities across all S&P quality rankings tumble about the same amount, creating “an enormous opportunity to own high-quality names” when the virus threat subsides, Solita Marcelli, deputy chief investment officer […]
UBS outlines an ‘enormous opportunity’ to buy up high-quality stocks and bonds following a sharp sell-off in recent weeks