Hopefully you saw my comments from this morning about the Fed. That was for subscribers only. So, if not, the gist was that I do not support the Federal Reserve's foray into the non-investment grade bond universe. It opens up a whole can of worms that we don't want opened. And what's done, can't be undone because it sets a precedent both for future policy and for market expectations.
In defense of the Fed's junk bond campaign
In defense of the Fed's junk bond campaign
In defense of the Fed's junk bond campaign
Hopefully you saw my comments from this morning about the Fed. That was for subscribers only. So, if not, the gist was that I do not support the Federal Reserve's foray into the non-investment grade bond universe. It opens up a whole can of worms that we don't want opened. And what's done, can't be undone because it sets a precedent both for future policy and for market expectations.