New York Fed Responds To Gundlach, Reveals It Will Start Buying ETFs In “Early May”

Read more on this subject: Federal Reserve
News Story Source:, Tyler Durden
I am told the Fed has not actually bought any Corporate Bonds via the shell company set up to circumvent the restrictions of the Federal Reserve Act of 1913. Must be the most effective jawboning success in Fed history if that is true.

… moments ago the The New York Fed announced on its website that it expects to begin purchasing eligible ETFs, most notably the LQD and JNK, but also many others as detailed previously…

… as part of its emergency lending programs in "early May."

The SMCCF is expected to begin purchasing eligible ETFs in early May. The PMCCF is expected to become operational and the SMCCF is expected to begin purchasing eligible corporate bonds soon thereafter. Additional details on timing will be made available as those dates approach.

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