One part of the plan called for expanding three programs so they would support $850 billion in credit. These facilities are the Primary Market Corporate Credit Facility (PMCCF), the Secondary Market Corporate Credit Facility (SMCCF), and the Term Asset-Backed Securities Loan Facility (TALF). Under the SMCCF the Fed plans to purchase in the secondary market corporate bonds that meet the facility’s specific eligibility requirements. (A link to the SMCCF’s full term sheet is available on the Fed’s website at federalreserve.gov/ monetarypolicy/smccf.htm.)
You can use the Fixed Income Worksheet (FIW) to find bonds that meet the Fed’s investment criteria, in the same way you might identify securities for a portfolio manager who allocated a new sleeve of funding (though the number of zeros for the Fed is larger, of course). FIW enables you to quickly analyze large universes of securities to find the best value. (This article is the seventh in a continuing series on FIW. Type {NSN Q8S981T0AFBQ } to see the others.)
For U.S. clients, FIW comes preloaded with LBUSSTAT, the Bloomberg Barclays US Aggregate Bond Index, a broad-based benchmark of investment-grade, U.S.-dollar-denominated bonds. To find bonds that match the SMCCF criteria, a logical place to start is​ LBUSSTAT with its more than 11,000 securities. You could also use other indexes or even exchange-traded funds.
Continue reading your story on the app
Continue reading your story in the magazine
If You Want to Know What Stock Is Set To Skyrocket, There Are Options
WHAT DO NIKE INC., Raven Industries, and Fortinet Inc. have in common? They exemplify the predictive capacities the options market offers: Recent stock price spikes were preceded by certain telltale signs in the options market, according to data compiled by Bloomberg. Use the terminal to generate ideas for enhancing your portfolio and profit from ever-changing option trading trends.
How Are You Doing? AID Provides the Answers
“HOW’M I DOING?” That’s a question asset managers, sales professionals, and all of us, for that matter, ask daily.
Volatile Markets Reveal Interesting Credit Opportunities in Energy
OIL ROSE ALMOST 50% from the end of October 2020 through mid-January.
Colonies of Retail-Investor ‘Ants' March On Korea's Stock Market
IN LATE JULY, 70-year-old Kim Kyung-rok began frantically sifting through his long-dormant stock brokerage account.
Examine How Market Upheaval Is Affecting Company Results
The coronavirus pandemic sent huge waves of volatility through markets in 2020. How did that affect the financial results of companies that interest you?
Get the Insider Scoop at Newly Public Health-Care Companies
Last year was a good year for at least one thing: initial public offerings in the U.S. With the frenzy of listings of special purpose acquisition companies, or SPACs, IPOs raised a total of $154 billion in 2020. That total was by far the largest of the past 10 years, and more than double the total from 2019, according to data compiled by Bloomberg.
“I've Had to Think Differently”
IN SEPTEMBER, Jane Fraser shattered the financial industry’s ultimate glass ceiling when she was named the next chief executive officer of Citigroup Inc., one of the world’s three most important banks.
The Prodigy
Yoyo Chang turned a hunch born in an English high school cafeteria into a next-generation payments app backed by serious, well-heeled investors
The Fintech Revolution Is Finally Here— And So Are the Regulators
SPEAKING IN OCTOBER to his banking brethren at the world’s biggest payments confab—the annual Sibos conference— Jamie Dimon didn’t mince words.
Opening Up
China’s entry into the WTO upended global manufacturing. Now it’s poised to disrupt the financial system— and the consequences could be just as dramatic and surprising
The Hyperinflation Hype
Talk that the U.S. is going the way of Zimbabwe or Venezuela is bunk but bunk can move markets and influence policy
What Is Wi-FI 6E?
If you’re in the market for a new router or any device that uses Wi-Fi, you should first understand the new Wi-Fi 6E standard and what it means for the future of wireless networks at home and in offices around the US. The Wi-Fi Alliance, a group of Wi-Fi platform vendors that work with the FCC and electronics manufacturers to set standards for Wi-Fi technology, announced the Wi-Fi 6E designation in 2020 for any IEEE 802.11ax (Wi-Fi 6) products that support 6GHz wireless spectrum. Essentially, this means Wi-Fi 6E enables faster speeds and lower latencies than Wi-Fi 6 and earlier iterations.
The Greatly Exaggerated Death of (Some) Cities
Anticipating the end of the pandemic, U.S. homebuyers are looking to denser neighborhoods in smaller urban areas
This Year Will Be Great. Really
After months of forced closures and record-high unemployment, the U.S. is ready for an economic recovery—and the franchise industry is uniquely positioned to lead the charge.
ITALIAN ‘PINOCCHIO' TAKES THE PUPPET TO ITS ROOTS
The latest cinematic rendering of “ Pinocchio, ” from Italian director Matteo Garrone, is informed not by the friendly 1940 Walt Disney retelling, but the original source material.
A Stove Called Yerofeyich
Auntie Nina even pinched herself in the side, but no – it wasn’t a dream.
Sitting Bull
THE SIOUX LEADER’S FINAL FLIGHT TO FREEDOM
A Silicon Curtain Descends
Trump escalated America’s war against Huawei and China. Biden should beware burgeoning technonationalism.
The Silver Lining in Biden's Massive Housing Plan
A democratic White House and a Republican Senate might be the best of all worlds when it comes to federal housing policy.
Turner growing into role
Scott Turner is no longer known just as Norv’s son and the kid who grew up at the Washington team facility and FedEx Field. He’s now a key cog in the rebranding and resurgence of the burgundy-and-gold offense.