BUY IT UGLY
With the Fed buying corporate bond ETFs, what are they trying to accomplish?
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Before we get into the meat of today’s post, I want to tell you a story. Back in the 1990s, when I was a newly hatched institutional equity derivative trader, I caught wind that one of the Canadian provinces was transitioning their pension portfolio from 100% bonds to a more typical 70%-30% stock/bond mix. Even though I was just a young whipper-snappe…