https://twitter.com/apark_/status/1261054164076986369
In today's Fed release they started reporting on the "Corporate Credit Facility LLC" vehicle they created to "support credit to employers."
How do they plan to do that?
By buying up corporate bonds on the primary/secondary market, including ETFs.
Did congress authorize this? pic.twitter.com/8jqjwOXIyu
— Charlie Bilello (@charliebilello) May 14, 2020
Who knew QE wouldn't work right from the beginning?
The JGB market. Yields never blew out, no BOND ROUT!!! because there wasn't a chance for inflation and recovery.
The full history of modern QE is total failure reflected in lower and lower yields. https://t.co/Ovi5hcslG4
— Jeffrey P. Snider (@JeffSnider_EDU) May 14, 2020
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