FED'S DALY SAYS FED IS MAKING PURCHASES IN CORPORATE BOND MARKET BECAUSE BUSINESSES NEED LIQUIDITY
So Apple among many other companies sitting on boatloads of cash need liquidity?
— Michael Lebowitz, CFA (@michaellebowitz) August 12, 2020
And corproate bond market… most the swaps being sold are in CBM that’s why these guys are buying Apple bonds Microsoft bonds amazon bonds etc…. the CDS are on investment grade bonds! That’s the canary in the coal mine pic.twitter.com/1x4QvPS1nO
— Greg Crennan (@GregCrennan) August 12, 2020