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The $17 Trillion Reason Not To Panic About Corporate Bonds
You might be inclined to think market participants are suddenly nervous about the outlook for credit.
After all, Steve Mnuchin is engaged in something of spat with the Fed over the fate of the facilities which backstopped US corporate bonds this year.
I'll just use the same language I often employ for this discussion. The Fed’s unprecedented support for investment grade corporate bonds and controversial decisions to buy fallen angels and high yield ETFs, together served as a Linus-style secu
