After Driving Corporate Bond & Junk-Bond Rally to Lowest Yields Ever, Fed Ends Bailout SPV with $513 Million Profit, Sends 90% to US Treasury

The Closed Eye Society

by Wolf Richter, Wolf Street: By mid-September, the junk bond market started heading south. It has been a sordid market manipulation and bondholder- and particularly junk-bondholder bailout scheme all along. Today was the final chapter. Remember the massive corporate bond-buying spree that the Fed announced in March 2020 and that the media hyped all over […]

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