
Chasing Commas (guest: Joseph Wang)
The Market Huddle
Corporate Credit Facility
The corporate credit facility was there to provide a similar function to what the fed did for the treasury market. The way that it was constructed was that he would have this special purpose vehicle, this separate legal entity. I think they bought maybe a total of 11 billion or something like that. And the covert bon market just kind of, not just unfroze, but wi bananas. So i think people just perceived that the fed was there, and just the market is basically unfrozen.
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