> Its Secondary Market facility may purchase U.S.-listed ETFs. While the preponderance of those holdings will be those primarily focused on U.S. investment-grade corporate bonds, the remainder will be in ETFs whose primary investment objective is exposure to U.S. high-yield corporate bonds.
In other words, the Fed is buying junk bonds through ETF. There's one more stage to go: buying equity ETFs, like the Bank of Japan has been doing for years.
In other words, the Fed is buying junk bonds through ETF. There's one more stage to go: buying equity ETFs, like the Bank of Japan has been doing for years.