07/02/2020

Alpinum Investment Management AG

Alpinum News Flash - Fed installs Backstop

Middle of June the Fed announced that it is going to buy single corporate bonds to ensure a functioning secondary corporate bond market, which is a historical move and a positive sign for a market that was close to collapsing in March this year, when liquidity disappeared just in a matter of days.
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Extraordinary times require extraordinary action and central banks’ influence has reached extreme levels. There are no limits to the measures taken to respond to the Covid-19 pandemic starting with ultra-low interest rates and all kinds of different asset purchase programmes. Central banks had no other choice in order to prevent an economic collapse.
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